Trade War May Drag Beyond 2020 Election

Written by Swiss America

640px President Trump at the G20 48162296741Trump Says Trade War Could Drag On, Stokes France Spat -Wall Street Journal
"President Trump suggested a trade war with China could drag out past the 2020 election and stoked a tariff spat with France during a visit to Europe for a NATO meeting. Mr. Trump said he had 'no deadline' to conclude a trade deal with China, adding that 'in some ways I like the idea of waiting until after the election,' during a sitdown with the North Atlantic Treaty Organization Secretary-General Jens Stoltenberg on Tuesday in London.

The president’s comments injected fresh uncertainty over the future of a 'phase-one' trade deal between the U.S. and China. Looming closer are the administration's plans to impose tariffs on smartphones, toys and other products from China on Dec. 15. Mr. Trump also criticized French President Emmanuel Macron for comments he made about the 29-member military alliance, and expressed frustration with France’s new digital-services tax. 'I don't want France taxing American companies. If they're going to be taxed it's going to be the United States that will tax them,' Mr. Trump said...The French tax, which was signed into law July 24, applies a 3% tax on revenue that tech companies reap in France from such activities as undertaking targeted advertising or running a digital marketplace. In response, the Trump administration has proposed tariffs of up to 100% against $2.4 billion of French imports."

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