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Trump jacks up tariffs on Chinese imports in latest tit-for-tat

Stock MarketsAug 23, 2019 05:31PM ET
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WASHINGTON (Reuters) - President Donald Trump said on Friday the United States would subject Chinese imports to an additional 5% tariff in response to what he called a politically motivated move by China to impose tariffs on $75 billion worth of U.S. exports.

"Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer," Trump said on Twitter. "As President, I can no longer allow this to happen!"

He said the United States would raise its tariffs on $250 billion worth of Chinese imports to 30% from the current 25% beginning October 1.

At the same time, he announced an increase in the planned tariffs on the remaining $300 billion worth of Chinese goods to 15% from 10%. The United States will begin imposing those tariffs on some products starting September 1, but tariffs on about half of those goods have been delayed until December 15.

Trump jacks up tariffs on Chinese imports in latest tit-for-tat
 

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Comments (5)
Adam Smith
Adam Smith Aug 24, 2019 3:20PM ET
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Uh oh, looks like The Simpsons prophecy is happening.
iftikhar alam
iftikhar alam Aug 24, 2019 12:29AM ET
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Donal Duck will continue to surprise you are u for that guys?
Jack Zhang
Jack_A Aug 23, 2019 6:28PM ET
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out of control, really out of control!! our Democratic system should not allow a child burn our own house.
Kevin Avila
Kevin Avila Aug 23, 2019 6:17PM ET
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Good. Put their short richards in the dirt...
David David
David9 Aug 23, 2019 5:37PM ET
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I told you guys ... this is not over yet. China will respond again since this Trump has not learn his lessons. In China, we say keep on spanking the monkey if it hasn't learn it's trick. Seems like there will be more spanking coming yo Trump soon.
Don Getty
Don Getty Aug 23, 2019 5:37PM ET
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DW its apparent you don't understand, companies are making mass exodus's from China, they aren't coming to America there fleeing to other lower wage asian countries. Dictator Donald is slowly winning. China goal now is to see that DD and the Goons of Putin don't win in 2020. So the more pain they can inflict in the US is about getting Russia's guy out! The reality is China is about to have a lot of pain as will America - the little guys will suffer and the 1% will need more tax breaks to make up for the 3 or 4 bad years that will ensue. Whats happening in Hong Kong could easily spill over into mainland China as the real financial pain comes home to the masses that have started to get used to the new capitalist ways and quality of life.
David David
David9 Aug 23, 2019 5:37PM ET
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The way it is now, both sides will keep on spanking eachother until the whole world falls into a deep recession. That is when they have enough and will come to the table yo settled.
Kevin Avila
Kevin Avila Aug 23, 2019 5:37PM ET
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Hope it continues mr wrong.... I hope for war actually...
David David
David9 Aug 23, 2019 5:37PM ET
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You hope for war then please call your Dr. You must missed your pills today.
 
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