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Trump to increase tariffs on Chinese goods

  • Regular
  • Economy
  • 6 months ago
  • 112

Donald Trump announced that tariffs currently imposed on $200 billion of imports from China will increase to 25% from 10% on Friday with added duties on the rest of what the country ships to the U.S.

Trump’s comments come days before Chinese Vice-Premier Liu He is due to arrive in Washington for an 11th round of negotiations seeking to put and end to the ongoing trade war that started when Washington levied a first round of punitive tariffs on Chinese imports in July 2018.

The president’s move follows signals that the most recent round of talks in Beijing last week did not yield progress on some US demands, including a curtailment of Chinese government subsidies to the country’s state-owned enterprises, one of the factors that prompted the US government to start the trade war.

According to Trump a remaining $325 billion in Chinese goods still untouched by the stand-off will become subject to the 25% “soon”.

 

 

Source: Smart Trend Team