The News
US President Donald Trump said he would “rather not” impose tariffs on China.
His remarks contrast with recent comments in which he threatened 10% penalties, and fall short of proposed 60% levies floated during his campaign.
But trade remains a sore spot for Trump: Among his first acts in office was an order to review trade policy, viewed as offering leverage in negotiations with China. Momentum in Washington appears tilted towards hawkishness, with lawmakers reintroducing a bill to revoke trade normalization with Beijing.
Businesses are downbeat: A majority surveyed by the American Chamber of Commerce in China worried about a further deterioration in ties, the most in five years.
AD