Trump says he'll raise China tariffs if there’s no trade deal
“If we don’t make a deal, we’re going to substantially raise those tariffs,” he said Tuesday in a speech to the Economic Club of New York. “They’re going to be raised very substantially. And that’s going to be true for other countries that mistreat us too.”
A new site for the signing hasn’t been announced. U.S. locations proposed by the White House have been ruled out, according to a person familiar with the matter. Locations in Asia and Europe are now being considered instead, the person said, asking not to be identified because the discussions weren’t public.
In his speech Tuesday, Trump renewed his assault against the Federal Reserve, saying it was hurting the United States by not copying other central banks in deploying negative interest rates. The Fed cut interest rates last month for the third time this year to shield the economy from uncertainty over trade and weaker global growth, while signaling that it won’t cut further unless the outlook worsens. The Fed’s benchmark rate now lies in a target range of 1.5% to 1.75%, which is low by historic standards but higher than Japan and the euro zone, which have shifted to negative rates in an effort to lift moribund economies.
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