'The Chinese are so tough, they can withstand more pain, in my judgement, than can Americans,' says Max Baucus, also a former senator from Montana.
, surged more than 500 points, or 2%, on the news. Other items subject to additional tariffs — set to go into effect Sept. 1 — are being delayed until mid-December.
On Tuesday, Chinese officials said they had a trade call with U.S. Trade Representative Robert Lighthizer and Treasury Secretaryalso faces pressure from pro-democracy protests in the Chinese territory of Hong Kong, Baucus said. Thousands of demonstrators disrupted operations at Hong Kong International Airport for the second day on Tuesday. The former U.S. ambassador expects the unrest to escalate as protesters "tasted victory.
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