Trump Sees ‘No Need to Rush’ China Talks as Trade War Escalates

• As promised, President Donald Trump boosted tariffs on $200 billion of Chinese imports to 25% overnight as the White House seeks to extract trade concessions in the current round of talks in Washington.
• Observers of those negotiations, which continue today, said that they are not hopeful of any meaningful breakthrough.
• One industry group is warning that the higher tariffs could cost 400,000 manufacturing jobs while also putting further pressure on American farmers.
• Goldman Sachs Group Inc. said there’s a 30% chance that $300 billion of Chinese goods not yet targeted could have duties imposed on them.

(Source: Bloomberg)