Trump on the tariff details
Trump tweet:
We have agreed to a very large Phase One Deal with China. They have agreed to many structural changes and massive purchases of Agricultural Product, Energy, and Manufactured Goods, plus much more. The 25% Tariffs will remain as is, with 7 1/2% put on much of the remainder. The Penalty Tariffs set for December 15th will not be charged because of the fact that we made the deal. We will begin negotiations on the Phase Two Deal immediately, rather than waiting until after the 2020 Election. This is an amazing deal for all. Thank you!
The 7.5% number is key. It's unclear which tariffs he's talking about.
It's likely the $112B in Sept 1 tariffs at 15%.
There are $250B in goods with a 25% tariff.
