By Denny Gulino
THE WHITE HOUSE (MaceNews) -For some reporters standing on the South Lawn driveway Friday evening there was only one question to ask: Are the latest escalated tariffs still on for Sunday. And yes, they are.
President Trump talked about hurricane preparations – his Mar a Lago is “dead center – his close aide who resigned after spilling some family secrets to reporters, the Iran missile explosion on the launch pad, – repeating what he had tweeted, that the U.S. wasn’t to blame – and again, how if the Fed lowers rates the stock market would “go up like a rocket.”
It was a recap of his tweets of the day and, in fact, while reporters were waiting for him to walk out to talk to them, he sent another tweet, that North Carolina has a Sept. 10 congressional election and that the Republican deserves to win.
Finally, though, he took the question that many traders had stayed late to hear answered. Tariffs? “They’re still on.” The 15% tariffs on more than 3,000 products made in China will include for the first time many on U.S. retail shelves. Are the talks still on? “I guess the meetings next month are still on,” he said.
It wasn’t long ago that China officials had indicated the tariffs would have to be suspended first, before any new talks. Despite the statements over last weekend and on Wednesday in Beijing that seemed to translate into a more moderate, accommodating tone, for many there was a lingering possibility that China at the last minute would balk again as the new U.S. tariffs took hold.
“China has to make a deal,’ Trump repeated. Now that will be tested. And also to be tested is whether higher consumer prices for Chinese goods will slow the U.S. economy as all three phases hit, next on Oct. 1 and then Dec. 15. By Christmas virtually every product made in China will be made more expensive for U.S. buyers.
The president returns to the White House Sunday.