Washington expects Chinese retaliation because of increased tariffs, US economist says

Economy and stock exchange

Raleigh Kudlo, chief economic adviser to US President Donald Trump, predicted that China would avenge the increase in tariffs imposed by the US authorities following the end of their trade talks in Washington without agreement.

Kudlo said in a statement on Monday that President Trump's move to increase US tariffs to 25 percent on all Chinese imports could take several months to take effect.

The trade talks between Washington and Beijing ended on Friday without agreement, and US President Donald Trump's announcement to raise tariffs on Chinese imports worth about $ 200 billion, from 10 percent to 25 percent, after US officials accused Beijing of backing away from commitments. , Which had been undertaken in previous rounds of negotiations.

China is more likely to take reprisals because it responded to previous US tariffs by raising taxes to $ 110 billion on US imports. Chinese officials also targeted US companies by slowing down customs licenses and intensifying regulatory controls.

(t tags) Washington (t) Tariff (t) Dollar (t) Donald Trump (t) Economy News