US President Donald Trump, on Friday insisted that his tariff policy was doing really well despite China hiking levies on US goods to 125 percent in the spiraling trade war between the world’s two biggest economies.
DAILY POST reports that investors dumped US government bonds, the dollar tumbled and stocks seesawed after Beijing’s retaliation against Trump deepened concerns on already traumatized global markets.
Recall that Trump sent financial markets into a tailspin by announcing sweeping import taxes on dozens of trade partners last week, only to abruptly roll them back to 10 percent on Wednesday for 90 days, while raising levies on goods from China.
“We are doing really well on our tariff policy. Very exciting for America, and the World!!! It is moving along quickly,”; Trump said in a post on his Truth Social network.
Later, the White House said that Trump remained hopeful about a deal with China, adding that 15 other countries have offers on the table during his 90-day pause in their tariffs.
However, Press Secretary Karoline Leavitt reiterated that Trump made it very clear, when the United States was punched that he woul punch back harder.
DAILY POST reports that the US and Beijing have been trading salvos of increasingly harsh tariffs since last week.
