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00:00:01
>> The next escalation in The US, China trade war might be around the corner. At midnight Thursday, a public comment period ends for President Donald Trump's next wave of tariffs. He's expected to pull the trigger on another $200 billion worth of goods from China as soon as Friday.
00:00:17
A way out doesn't seem likely soon. On Wednesday, Trump said he thinks the US has done well in talks with Beijing but quote we're not prepared to make the deal that they'd like to make. Hours later Beijing warned it would again retaliate if Trump fires off the new tariffs.
00:00:32
And as Reuters Michael Martina in Beijing explains this round may bite for you as shoppers.>> So, the US tariffs were originally designed by the US trade representative to target Chinese products that could be sourced elsewhere. The issue is that once we start getting more and more tariffs, more products are gonna be hit.
00:00:51
And so with this looming wave of tariffs, we're gonna be seeing products like tires, furniture, car seats for babies, lighting equipment, bicycles. These kinds of things that consumers would buy day to day, they could be impacted.>> However, White House sources tell Reuters that Trump administration seems confident it's winning the trade war.
00:01:11
It perceives the Chinese economy as weak right now, and stock markets sinking on news of the tariffs. But Beijing sees an opportunity in the US midterms.>> One thing that we hear Chinese academics or advisors to the government repeatedly voice, is that they think that perhaps President Trump's standing in The US could impact his China trade event agenda.
00:01:31
Certainly Trump faces midterm elections back home in November, and the idea is that if he takes political damage for that, perhaps he won't be able to push through the China trade policies that China is so worried about.>> Washington has made a number of demands on Beijing cutting subsidies for its hi-tech industry, to slashing a $375 billion trade gap.
00:01:55
China accuses the Trump White House of hard line tactics, and has called for more talks.