Industry executives and lawmakers fear that Trump’s approach could leave American companies with less access to the Chinese market, not more.
President Trump told CNBC he’s “not thrilled” the U.S. central bank under Fed Chairman Jerome Powell is continuing to raise interest rates, suggesting they may undercut his efforts to grow the economy. “I don’t like all of this work that we’re putting into the economy and then I see rates going up,” he said.
New trade actions will hit consumer products — and make it harder to retreat from all-out trade war, experts say.
China’s Ministry of Commerce released a statement condemning the U.S. move, asserting the United States had “violated the WTO rules and launched the largest trade war in economic history to date.”
The move is expected to prompt Beijing to retaliate against American products and plunge the two countries into a costly trade war.
An agency within the department warned that FCC authorization would bring “an unacceptable risk to U.S. national security and law enforcement.”
A draft of the document says American telecommunications companies are “attractive targets for espionage, sabotage and foreign interference activity.”
Carmaker says tariffs will make it harder to compete against foreign companies.
The president’s on-again, off-again trade war is confusing markets and U.S. business leaders.
The Trump administration warned it will respond to unfair trade practices by “hostile” countries such as China and Russia