Trump to Back $200 Billion China Tariffs as Early as Next Week, Sources Say
- China to respond with duties on $60 billion of U.S. imports
- Asia stocks follow U.S. lower, while dollar and yen hold gains
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President Donald Trump wants to move ahead with a plan to impose tariffs on $200 billion in Chinese imports as soon as a public-comment period concludes next week, according to six people familiar with the matter.
Asked to confirm the plan in an interview with Bloomberg News in the Oval Office on Thursday, Trump smiled and said it was “not totally wrong.” He also criticized management of the yuan, saying China has devalued its currency in response to a recent slowdown in economic growth.