* President Trump wanted to double tariff rates on Chinese goods last month after Beijing’s latest retaliation in the trade war before settling on a smaller increase, three sources tell CNBC.
* Trump was outraged after he learned Aug. 23 that China had formalized plans to slap duties on $75 billion in U.S. products in response to new tariffs from Washington on Sept. 1.
* Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer then enlisted multiple CEOs to call Trump and warn him about the impact such a move would have on the stock market and the economy.
President Donald Trump wanted to double tariff rates on Chinese goods last month after Beijing’s latest retaliation in a boiling trade war before settling on a smaller increase, three sources told CNBC.
The president was outraged after he learned Aug. 23 that China had formalized plans to slap duties on $75 billion in U.S. products in response to new tariffs from Washington on Sept. 1. His initial reaction, communicated to aides on a White House trade call held that day, was to suggest doubling existing tariffs, according to three people briefed on the matter.
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WNU Editor: The majority of Americans support President Trump's approach towards China on trade. Even though this poll has a large Democrat sample, 67% still think it is necessary to confront China over its trade policy now? (Page 234 of the latest Harvard/Harris poll).
This person has a different take, but she avoids the above poll result .... Does US electorate support Trump’s trade war? (Kerry Boyd Anderson, Arab News).
