Trump escalates trade war with more China tariffs

US President Donald Trump
US President Donald Trump
US President Donald Trump has said he will impose a fresh 10% tariff on another $300bn (£247bn) of Chinese goods, in a sharp escalation of a trade war between the two countries.
It came after the latest round of bilateral talks showed little sign of a breakthrough.
The new tariffs, due to take effect on 1 September, effectively tax all Chinese imports to the US.
The duty is likely target a wide range of goods, from smartphones to clothing.
Mr Trump announced the tariff plan on Twitter, while criticising China for not honouring promises to buy more US agricultural products at this week's negotiations in Shanghai.
He also attacked Chinese President Xi Jinping for failing to do more to stem sales of the synthetic opioid fentanyl.
In later remarks, the president told reporters the 10% tariff was a short-term measure and that tariffs could be lifted further in stages to more than 25%.
"Somebody should have done this with China a long time ago," he added.

No comments

Powered by Blogger.