President Donald Trump on Wednesday defended his sweeping 145% tariff on Chinese goods, according to CNBC. At a Cabinet meeting, the president dismissed concerns over supply chain shocks and consumer price hikes while labeling China the “chief-ripper-offer” on trade. Trump downplayed the impact of potential shortages, suggesting Americans could do without certain imports. His remarks come amid confusion over who is leading negotiations with China. China’s Foreign Ministry denied that any tariff negotiations were currently underway, stating there had been no recent calls between Trump and Chinese President Xi Jinping.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump on Wednesday defended a sweeping 145% tariff on Chinese goods,
00:07according to CNBC. Speaking at a cabinet meeting, the president dismissed concerns
00:10over supply chain shocks and consumer price hikes, while labeling China the chief ripper offer
00:16on trade. Trump downplayed the impact of potential shortages, suggesting Americans could do without
00:21certain imports. His remarks come amid confusion over who is actually meeting negotiations with
00:26China. China's foreign ministry denied that any tariff negotiations were currently underway,
00:31stating there had been no recent calls between Trump and Chinese President Xi Jinping.
00:36For all things money, visit Benzinga.com slash GSTV.