Trump ready to hit all Chinese imports with tariffs

Trump Slams Interest Rate Hikes, Ignoring Hands-Off Tradition Toward Fed

Trump Slams Interest Rate Hikes, Ignoring Hands-Off Tradition Toward Fed

President Donald Trump has indicated that he's willing to hit every product imported from China with tariffs, sending US markets sliding before the opening bell Friday. The interview was taped Friday afternoon, and CNBC aired Trump's complaints about the Fed shortly after.

Trump said the U.S. had been being taken advantage of by China for a long time.

Powell added that "no one in the administration has said anything to me that really gives me concern on this front".

Even though he's frustrated, Trump said he's "letting them do what they feel is best". This article is strictly for informational purposes only.

Mr Trump has slapped hefty import taxes on steel and aluminium from the EU, Canada and Mexico, in addition to imposing levies on goods from China worth tens of billions of dollars, sparking retaliatory tariffs and stoking fears of an all-out trade war. Yet he said he has not pushed the tariffs out of any ill will towards China.

The US president did not limit himself to commenting on tariffs and trade, and he accused China and the European Union of currency manipulation. The president said China had harmed the U.S.by deflating its currency to suppress the price of Chinese goods and violating trade laws.

White House economic adviser Larry Kudlow blamed Chinese President Xi Jinping for a lack of progress in bilateral trade talks, saying that lower-ranking officials want a deal.

The Washington Post says Trump broke with "longstanding practice" by criticizing the Fed, which presidents typically avoid doing "out of respect for the independence of the institution, and to avoid any hint of political influence over the nation's monetary supply".

The president also said the European Union is "making money easy" and China is manipulating its currency.

During the 1960s, President Lyndon Johnson reportedly physically manhandled the then-Fed chairman, William McChesney Martin, for wanting to raise interest rates, which LBJ saw as a threat to his guns-and-butter fiscal spending.

"We've been ripped off by China for a long time".

China filed a challenge against the latest round of USA tariffs with the World Trade Organization this earlier week. They put on massive Tariffs and Barriers.

During the 2016 presidential campaign, Trump was highly critical of the Fed and accused its policymakers of keeping rates at ultralow levels to favour Democrats. Trump wants the Federal Reserve to be happy and he knows he needs to let go, but don't blame him if The Fed keeps attracting the wrong kind of guys with her short skirts and slutty makeup.

"Now I'm just saying the same thing that I would have said as a private citizen", Trump said. Most notably, during the Bill Clinton administration, Robert Rubin, first as head of the National Economic Council and later as Treasury Secretary, was to refrain from pressuring the Fed on policy, a precedent that has been followed by the administrations of George W. Bush and Barack Obama.

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