The US commerce secretary Wilbur Ross, speaking to CNBC this Tuesday, said that the purpose of new US tariffs is to modify China’s behaviour.
Key quotes:
“¢ US tariffs on Chinese goods were carefully thought through.
“¢ Officials sought to put tariffs on Chinese items with least disruption to consumers.
“¢ Tariffs are seen as having minimal impact on inflation.
“¢ The US is trying to give China incentive for constructive, near-term talks.
“¢ It is up to China to decide whether or when there will be more dialogue.
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