President Trump is resday to significantly ramp up pressure on China if a trade deal is not agreed to soon, according to an outside adviser to the White House who called tariffs so far “low level.”
In an interview in Hong Kong Thursday with the South China Morning Post, Michael Pillsbury said President Trump has been “remarkably restrained in the pressure he has brought to bear on China in the trade field.”
“Does the President have options to escalate the trade war? Yes, the tariffs can be raised higher,” he told the newspaper..
“These are low-level tariffs that could go to 50% or 100%,” he said, adding that President Trump’s critics were wrong to assume he is “just bluffing” when he threatened an all-out Trade War.
“There are other options involving the financial markets, Wall Street, you know, the President has a whole range of options,” he said.
Trade officials from both sides are expected to resume negotiations in Washington October.