Trump won't raise tariffs, former Obama official says
President Trump put a charge into the markets late Tuesday afternoon after saying trade talks with China "are going well."
But, there are reports that the U.S. is pressing China on securing a pledge to not devalue its currency as part of any deal.
Bridgepark Advisors managing partner Stefan Selig was a former Under Secretary of Commerce for International Trade under President Obama. He joined "Countdown to the Closing Bell" exclusively and said he didn't think President Trump would end up raising tariffs.
"It is pretty unlikely tariffs will be raised because we would see a profound impact on the markets around the world," Selig said.
The deadline for the U.S. to impose additional tariffs on Chinese products is just 10 days away, March 1st.
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Trade talks between the U.S. and China are scheduled to resume Wednesday.