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Home / Business / Trump has reportedly overruled the consultants in their decision to beat tariffs on remaining Chinese imports

Trump has reportedly overruled the consultants in their decision to beat tariffs on remaining Chinese imports



President Donald Trump talks to the press as he leaves the White House in Washington, DC.

Michael Brochstein | LightRocket | Getty Images

President Donald Trump quashed the adamant objections of nearly all his trading team when he ordered the 10% levy on China's remaining $ 300 billion in exports to the United States, according to the Wall Street Journal.

Trump said in his Twitter-announced ruling that China has failed to honor its promise to buy American agricultural commodities in bulk, and that the US would introduce new tariffs as of September 1

st. [19659002] The Dow closed more than 280 points on Thursday, and government bond yields also fell sharply.

Finance Minister Steven Mnuchin and US Representative Robert Lighthizer were in Shanghai last week to resume the stalled trade talks. Trump and Chinese President Xi Jinping had agreed on a ceasefire in the trade war on the sidelines of the G-20 summit in June in Japan.

Trump wanted to see peasants hit hard by the trade war, but China stepped up his US purchases as he prepared for a rally in Ohio. However, Lighthizer and Mnuchin told the President at a meeting of the Oval Office that, according to the sources of the Journal, the talks in Shanghai did not lead to the desired results.

Trump then ordered new tariffs. Practically all members of the Oval Office – including national security adviser John Bolton, economics consultant Larry Kudlow, and incumbent Chief of Staff Mick Mulvaney – objected to his decision, according to the Journal. Only Peter Navarro, a China hawk, had no objections.

An almost two-hour debate ensued, but the president stuck to his argument and eventually his advisors helped him draft a Twitter post on the new rates, the Journal reported.

Read the full story in the Wall Street Journal.


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