A day after U.S. Treasury Secretary Steven Mnuchin extended an invitation to his Chinese counterpart to hold another round of trade talks aimed at avoiding yet another escalation, the White House has apparently reversed course. According to Bloomberg, U.S. President Donald Trump has ordered his aides to proceed with implementing the next round of tariffs on Chinese exports – 25 percent targeting some $200 billion in goods. An announcement on the new tariffs is reportedly being delayed until the administration can finish a lengthy process of revisions based on objections made during the public comment period, which expired at the beginning of September. Implementation of this round was expected to be delayed until after the next Mnuchin-led talks could be held, which suggested that the White House may have been feeling the heat from U.S. trade and industry ahead of midterm elections, but this may no longer be the case. Regardless, both the U.S. and China are digging in for a protracte
Daily Memo: US Turns Up the Heat on China and Russia
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