U.S. Plans to Increase China Tariffs on Friday

The transcript discusses China's unexpected decision to renegotiate terms of a trade deal with the US, which surprised the US trade team and led to President Trump's tweets. Despite the setback, the US economy is deemed strong enough to handle any repercussions. Chinese Vice Premier Liu is expected to visit DC for further discussions. The US plans to implement tariffs, with markets closely watching for any changes. While a reversal of the decision is possible, the threat of tariffs is considered serious.

What was the status of the trade deal before the Chinese backpedaling?

What potential action did President Trump threaten regarding tariffs?