US to hit China with fresh tariffs from September 1: Donald Trump
Trump, who had agreed in June not to impose more tariffs while the two sides tried to reach a trade deal, said on Twitter that the new tariffs would go into effect on September 1. Those new levies would be in addition to the 25% tariff that has already been imposed on $250 billion of imports and would essentially tax all Chinese products sent into the United States.
"We thought we had a deal with China three months ago, but sadly, China decided to renegotiate the deal prior to signing," Trump said. "More recently, China agreed to buy agricultural product from the US in large quantities, but did not do so." Trump said that China also did not fulfill its commitment to stop the sale of fentanyl into the US.
Our representatives have just returned from China where they had constructive talks having to do with a future Trad… https://t.co/LsYihbltRg
— Donald J. Trump (@realDonaldTrump) 1564680369000[3]
...buy agricultural product from the U.S. in large quantities, but did not do so. Additionally, my friend President… https://t.co/Dt2e5SIGd1
— Donald J. Trump (@realDonaldTrump) 1564680370000[4]
...during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remainin… https://t.co/9uHUs91afm
— Donald J. Trump (@realDonaldTrump) 1564680370000[5]
Wall Street dove into the red following Trump's announcement, with the Dow Jones Industrial Average down 0.6%.
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References
- ^ Donald Trump (timesofindia.indiatimes.com)
- ^ Twitter (timesofindia.indiatimes.com)
- ^ 1564680369000 (twitter.com)
- ^ 1564680370000 (twitter.com)
- ^ 1564680370000 (twitter.com)
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