(Andrew Mayeda – Bloomberg)
Over five days, the U.S. called off a trade war with China, cast doubt over the framework of talks with Beijing, and threatened tariffs on car and truck imports to protect national security.
In other words, it’s been just another week for the volatile trade policy of President Donald Trump. The coming days aren’t looking much calmer.
Commerce Secretary Wilbur Ross is scheduled to visit China June 2-4 for more talks with Vice Premier Liu He, with a long list of topics that can ease tension with Beijing or ramp it up again – from narrowing the trade gap to the fate of China’s telecommunications giant ZTE Corp.
In his second year in office, Trump has been on a mission to deliver on his election promise to crack down on unfair trade practices by foreign countries and rebuild America’s manufacturing base. The scope of the president’s trade proposals has been sweeping, ranging from overhauling the North American Free Trade Agreement to proposing tariffs on up to $150 billion in Chinese imports. On Wednesday, the Trump administration opened a new front, launching a probe into whether auto imports imperil national security. Click here to read more.