Trump threatens to raise tariffs on $200bn of Chinese goods

Trump said in a tweet Sunday afternoon that the current 10% levies on $200 billion worth of Chinese goods will rise to 25% on Friday. He also threatened to impose 25% tariffs on an additional $325 billion of Chinese goods “shortly.”

Though trade negotiations between Washington and Beijing officials are set to resume on Wednesday, the president lamented that the progress is moving “too slowly” as China tries to re-negotiate terms of the deal.

Donald J. Trump

@realDonaldTrump

For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars….

Donald J. Trump

@realDonaldTrump

….of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%. The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!

20.3K people are talking about this

The Wall Street Journal reported that China is considering cancelling its trade talks with the U.S. this week in light of Trump’s latest threats. Citing a source, the Journal said Beijing had been surprised by the new threats.

Leave a Reply

Your email address will not be published. Required fields are marked *