June 3, 2019 / 10:28 AM / 3 months ago

Import tariffs on China not pushing up U.S. inflation - Trump

U.S. President Donald Trump and First Lady Melania Trump arrive for their state visit to Britain, at Stansted Airport near London, Britain, June 3, 2019. REUTERS/Hannah McKay

LONDON (Reuters) - U.S. President Donald Trump said the tariffs that his administration has imposed on Chinese imports were not pushing up U.S. inflation and were prompting manufacturers in the Asian powerhouse to move elsewhere.

“Many firms are leaving China for other countries, including the U.S. in order to avoid paying the tariffs,” Trump said on Twitter shortly after beginning a state visit to Britain.

“No visible increase in costs or inflation, but U.S. is taking billions.”

Reporting by Kate Holton; Writing by William Schomberg; Editing by Alistair Smout

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