Despite 90-day tariff pause with China, Congressman Landsman says damage already done

"They were very happy to be able to do something with us, and the relationship is very, very good," President Donald Trump said.What Trump said China plans to do is cut tariffs — or import taxes — on goods made in the U.S. to 10 percent, down from a recent high of 125 percent.In exchange, the U.S. will lower the tariffs the Trump administration imposed on Chinese goods last month from 145 percent to 30 percent.It's a 90-day deal that takes effect on Wednesday.Negotiations will continue to make the agreement more permanent.Congressman Greg Landsman (D-OH), who spent four years as a Cincinnati councilman, is not exactly impressed. "Landsman said the president's tariff regime has kept companies guessing when it comes to keeping shelves stocked with foreign-made products — and whether or not to pass tariff-related price hikes along to consumers. "The uncertainty is on the right side of the American worker because ultimately if the uncertainty works, then you move to a better place," Hassett said.Investors seem to share Hassett's perspective, at least based on what the markets did on Monday.

Author: Todd Dykes

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