FIRST AIRED: May 10, 2019

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00:00:00
Donald Trump made good on his promise to hike up tariffs on Chinese goods Friday right in the middle of negotiations between both sides in Washington so I have no idea what's going to happen I did get last night a very beautiful letter from president xi let's work together let's see if we can get something done , but they renegotiated the deal they kicked in a minute after midnight east coast time hours later China didn't have much to say with Beijing saying it quote deeply regrets the decision but that it would take countermeasures the country's commerce ministry didn't say what those would be trump announced the Judy hike earlier in the week often needs that China had backtracked on nearly all its promises in the drug trade agreement the news shook up the markets and gave US importers of Chinese goods less than five days notice but this time around the tariffs would be applied in quite the same way as the previous three rounds from last year according to US authorities baby goods which left Chinese ports all airports before the midnight deadline will not be subject to the new increased Judy Goldman Sachs called it a window of opportunity a few weeks for negotiators to hammer out a deal before the tariffs really by facing the most pain hi take goods from internet modems to circuit boards but also more humdrum items like vacuum cleaners and furniture one industry insider called the hike quote disastrous for the tech industry and the public as well trump has hinted that the tariffs I paid by China the economists say actually it's US businesses which end up footing the bill eventually passing the costs on to shoppers in the form of higher prices