Senators divided over China tariff hike threat

Credit: Reuters - Politics
Published on May 7, 2019 - Duration: 00:57s

Senators divided over China tariff hike threat

Democratic Senators Elizabeth Warren and Mark Warner and Republican Senators John Kennedy and Lindsey Graham drew party lines over President Donald Trump's threat to hike hike U.S. tariffs on $200 billion worth of Chinese goods this week.

Rough Cut (no reporter narration).

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Senators divided over China tariff hike threat

ROUGH CUT (NO REPORTER NARRATION) Democratic Senators Elizabeth Warren and Mark Warner and Republican Senators John Kennedy and Lindsey Graham drew party lines Tuesday over President Donald Trump's threat to hike hike U.S. tariffs on $200 billion worth of Chinese goods this week.

Trump dramatically increased pressure on China on Sunday to reach a trade deal, saying he would hike U.S. tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon.

The move marked a major escalation in tensions between the world's largest economies and a shift in tone from Trump, who had cited progress in trade talks as recently as Friday.

Stock markets sank and oil prices tumbled as negotiations were thrown into doubt.

The Wall Street Journal reported that China was considering canceling this week's trade talks in Washington in light of Trump's comments, which took Chinese officials by surprise.

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