Stocks dropped in Europe and U.S. equity futures sold off as Trump’s comments indicated no urgency to reach a deal by Dec. 15, which U.S. Commerce Secretary Wilbur Ross on Monday called a “logical deadline.” The Trump administration has threatened to impose tariffs on more Chinese imports starting that day. Those levies would hit American consumer products such as smartphones, toys and childrens’ clothing just before the Christmas holiday.
“If nothing happens between now and then, the president has made quite clear he’ll put the tariffs in — the increased tariffs,” Ross said on Fox Business Network.
A flurry of U.S. trade moves in the past 24 hours has eroded investor optimism that Trump would ease up on tariffs that have slowed the global economy. Rather than ratcheting down trade tensions, Trump is indicating confidence that his import taxes are good for America.
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