President Trump boasted about the power of taxing imports on Monday morning and warned that countries that do not agree to his trade demands will be “tariffed,” escalating tensions as crucial negotiations loom with China and Canada. In a pair of tweets, Mr. Trump continued to make the case that tariffs largely harm the countries that are taxed, saying the impact on the American economy has been “almost unnoticeable.” His comments are likely to further rattle American businesses, which have pleaded with the administration to abandon the tariffs and warned they will raise prices, cost jobs and hurt the United States economy. Mr. Trump is not expected to relent. He is expected to announce this week that the United States will impose tariffs on another $200 billion worth of Chinese goods, a move that people familiar with the negotiations say could scuttle trade talks that are planned with the Chinese next week.

Source: New York Times September 17, 2018 12:11 UTC