President Trump reiterated on Monday that if China doesn’t withdraw the 34 percent retaliatory tariff it placed on the U.S., the U.S. would respond by raising tariffs another 50 percent.
So, who will blink first? Gordon Chang, author of “Plan Red: China’s Project to Destroy America,” told me he doesn’t think Chinese President Xi Jinping will back down and that the history of the last negotiation could play a role going forward.
“I’m sure President Trump remembers that the Chinese violated the phase one trade deal of January 2020, so I’m not sure he’s going to be fooled again.”
It’s important to remember that this is likely just the beginning of a long road. During Trump’s first term, the negotiations between China and the U.S. spanned most of 2018 and 2019, and they had frequent twists and turns.
