Trump slaps retaliatory tariffs on Chinese goods President Donald Trump announced in a series of Twitter posts Friday that he ,
Would be imposing a higher rate of tariffs on some Chinese imports, after China earlier in the day said it would be slapping tariffs on another $75 billion worth of U.S. goods.The additional levies are set to roll out in two tranches. The $300 billion worth of imports from China that were set to be taxed at a 10% rate ,
On September 1 will now be taxed at a 15% rate. And starting October 1, the $250 billion worth of Chinese imports
Currently taxed at 25% will be taxed at a rate of 30%, Trump said.The Office of the U.S. Trade Representative followed up with a press release reiterating Trump’s new tariff announcements shortly after the Twitter posts.
For many years China (and many other countries) has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight….
“It is fears about where the trade war is going that will now weigh even more heavily on financial markets and business investment in the coming months – and that is where the real damage to the US economy will be done.”
Trump’s announcement came about an hour after market close Friday. Earlier in the session, the Dow fell more than 700 points on an intraday basis after Trump wrote in Twitter post that he was ordering U.S.
The Twitter storm Friday came as Federal Reserve officials gathered in Jackson Hole for the central bank’s annual symposium.Trump wrote in Twitter post that he was ordering U.S.