Breakingviews - China trade threats could backfire
Through August, the People’s Republic met 62% of its commitment in the so-called Phase One deal, according to the Peterson Institute for International Economics. Tai said she will have “frank” discussions with her Chinese counterpart and all options are on the table, including more import taxes.
But such levies could be passed down to Americans who are already dealing with growing costs. The consumer price index in August jumped by 5.3%, including increases in gasoline and used cars. Tariffs on Chinese imports already cost consumers about $51 billion a year, according to the American Action Forum. The last thing Americans need is another excuse for inflation.
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