SPUTNIKNEWS – June 28, 2017: Trump administration officials say the president is growing frustrated with Beijing’s inaction on the North Korean nuclear issue, and contemplating new tariffs on Chinese steel. Speaking to Sputnik, former senior State Department official Howard Stoffer said that if Trump goes ahead and China responds, it could plunge the US economy into recession.
Unnamed senior Trump administration officials told Reuters about the president’s frustration, and his mulling of trade actions including tariffs on Chinese steel imports.
Trump had earlier threatened to ‘deal with’ the alleged threat posed by the North Korean nuclear and missile programs unilaterally if China was not prepared to help. Last week, he tweeted that efforts by the Chinese government to “help with North Korea had “not worked out.”
Speaking to Radio Sputnik about the possible trade restrictions that Trump may be considering, Dr. Howard Stoffer, a retired US State Department official specializing in nuclear arms control and counter-terrorism, warned that if the Washington were to introduce new restrictions on Beijing, the US economy might quickly slide into recession.
“Yes, it might be possible to slap some sanctions on Chinese steel,” Stoffer said. “However, there are so many rules already that dumping and support for Chinese steel that the effect would be extremely minimal. And then what would be the point? The point would be that China could ignore that,” he added. Link: Read Complete Article