President Donald Trump on Tuesday warned that failure to get a trade deal with China will prompt more tariffs.
“If we don’t make a deal with China, I’ll just raise the tariffs even higher,” he told reporters at the White House.
Trump’s latest tough comment came as markets are watching intensely for signs of progress in the two economic superpowers’ attempt to reach a so-called “phase one” partial deal taking the heat out of a growing trade war.
Predictions of a resolution have come and gone repeatedly as Trump veers from hints of imminent deals to declaring his satisfaction with the current standoff, because the United States is pulling in billions of dollars in trade tariffs.
Skeptics say even a partial pact hinges on Trump rolling back existing tariffs, something his latest comment about increasing the duties would appear to put in doubt.