Mr. Trump has blamed China for “reneging” on a trade deal with the United States, and last month, he raised tariffs on $200 billion worth of goods as punishment. China has retaliated by raising tariffs on about $60 billion worth of American products, like soybeans. Mr. Trump said on Monday that he saw no downside to taxing nearly everything China sends into the United States, saying it would continue to boost the American economy. Now we’re getting a lot of money from China, and I think that’s one of the reasons the G.D.P. That view is unlikely to change absent a steep drop in the stock market or a pronounced slowdown in the American economy, two metrics that Mr. Trump pays close attention to.

Source: International New York Times June 10, 2019 23:03 UTC