CNBC's Jim Cramer says he does not believe President Trump would be willing to roll back existing tariffs on Chinese goods by half in order to get a 'phase one' trade deal.
would be willing to roll back existing tariffs on Chinese goods by half in order to get a "phase one" trade deal.around 8:55 a.m. ET, based on his reporting. Media accounts, first reported by The Wall Street Journal, said that the U.S. proposed as part of a possible trade agreement with China to cut existing tariffs on $360 billion in Chinese products by 50%.
Trump, at 9:06 a.m. ET, seemed to confirm Cramer's reporting. The president tweeted, "The Wall Street Journal story on the China Deal is completely wrong, especially their statement on Tariffs."Thursday about trade with China and whether to delay the next round of U.S. tariffs. Duties of 15%, set to take effect Sunday, would affect about $160 billion in Chinese-made goods including toys, computers, smartphones and clothing.
China has been uncharacteristically quiet ever since news broke that the U.S. had agreed to a "phase one" trade deal in principle with the Chinese. Chinese officials have been set to hold a press conference regarding the trade talks on Friday morning.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jim Cramer turns bullish on Tesla — 'I'm a true believer'Elon Musk 'is a great CEO when he can get out of his own way, and that seems to be what he's doing,' the 'Mad Money' host says.
Read more »
Recent homebuyer numbers show 'spending is just beginning' for millennials, Jim Cramer says'After a decade of cocooning, millennials want to buy homes that represent value, which is in keeping with the way they shop for everything else,' CNBC's Jim Cramer says.
Read more »
Jim Cramer: I almost hope China reneges on its trade promisesThe 'Mad Money' host lays out why he has a hardline stance on trade with China.
Read more »
Jim Cramer reveals a list of stocks worth buying on a US-China trade deal'Just remember, please, these are mostly short-term trades, not investments,' the 'Mad Money' host says.
Read more »
House Judiciary Committee to debate articles of impeachment against TrumpThe House Judiciary Committee on Wednesday will start debate on the two articles of impeachment against President Donald Trump.
Read more »