In a new statement from the Oval Office, Trump said that the U.S. is “losing nothing” by not trading with China. As of now, the U.S. has placed 145% tariffs on imported Chinese goods, while China has placed 125% tariffs on imported U.S. goods. Both sides have placed exemptions on certain items.
Trump Holds Ground on Trade War with China
In a weekend interview with NBC’s “Meet the Press,” Trump stood firm on his stance, responding “No” when asked if he was willing to drop Chinese tariffs in order for China to begin negotiations. Last Friday, China’s Commerce Ministry said that it was evaluating an offer from the U.S. to begin trade talks.
Chinese stocks have remained resilient in the face of the trade war, with the iShares China Large-Cap ETF (FXI) up by nearly 15% year-to-date.
