Donald Trump is making a high-stakes bet on his 2020 re-election with his decision to impose new tariffs on China: that the US economy is strong enough to absorb an all-out trade war -- and might even benefit.
Trump set out his rationale in a series of tweets Friday morning after raising tariffs to 25 percent on $200 billion in goods from China and threatening more. Chinese and US officials held brief talks in Washington that were unproductive, according to people unfamiliar with the matter.
“Tariffs will make our Country MUCH STRONGER, not weaker,” the president predicted in a tweet.