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Former Goldman Sachs CEO backs Trump's China tariffs as 'effective negotiating tool'
Former #GoldmanSachs CEO #LloydBlankfein is backing President #DonaldTrump’s tariffs on #China as a tool to pressure the Asian nation into a trade agreement with the #US. “Tariffs might be an effective negotiating tool. Saying it hurts us misses the point. China relies more on trade and loses more,” he tweeted on Tuesday evening.
Amid warnings from corporate America, Main Street businesses, economists and others that Trump’s tariffs on China will increase costs for U.S. consumers, Blankfein said they could “eventually switch their purchases to domestic or non-Chinese companies” or pay more as “part of the process to assert pressure to level the playing field.”
Former #GoldmanSachs CEO #LloydBlankfein is backing President #DonaldTrump’s tariffs on #China as a tool to pressure the Asian nation into a trade agreement with the #US. “Tariffs might be an effective negotiating tool. Saying it hurts us misses the point. China relies more on trade and loses more,” he tweeted on Tuesday evening.
Amid warnings from corporate America, Main Street businesses, economists and others that Trump’s tariffs on China will increase costs for U.S. consumers, Blankfein said they could “eventually switch their purchases to domestic or non-Chinese companies” or pay more as “part of the process to assert pressure to level the playing field.”