President Donald Trump said Thursday that if he is unable to come to an agreement with trading partners during the 90-day break he announced on Wednesday.
He will revert to the higher tariff rates announced last week.
In a meeting with his Cabinet, Trump justified the tariffs he put on other countries, but he also recognized that there may be some issues with the rollout, saying, “but in the end it’s going to be a beautiful thing.”
Following Beijing’s most recent wave of retaliation, the White House increased the duties on all Chinese exports to 125%.
This is on top of the 20% fentanyl-related penalties that were put in place in early February, raising the overall rate for China to 145%, the White House said.
