Trump threatens to 'substantially' raise tariffs if there's no China deal

Trump and Chinese President Xi Jinping had planned to sign "phase one" of the deal at an international conference this month in Chile that was canceled because of social unrest in that country

President Donald Trump said the U.S. will increase tariffs on China in case the first step of a broader agreement isn’t reached.

“If we don’t make a deal, we’re going to substantially raise those tariffs,” he said Tuesday in a speech to the Economic Club of New York. “They’re going to be raised very substantially. And that’s going to be true for other countries that mistreat us too.”

China is “dying” to make a trade deal with the U.S., Trump said, adding that he’d only sign it if it’s good for American companies and workers. Still, “we’re close -- a significant phase