Trump jacks ups tariffs on China imports

 

US PRESIDENT Donald Trump has announced the United States would subject Chinese imports to an additional 5 per cent tariff in response to what he called a politically motivated move by China to impose tariffs on $US75 billion worth of US 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 $US250 billion worth of Chinese imports to 30 per cent from the current 25 per cent beginning October 1.

At the same time, he announced an increase in the planned tariffs on the remaining $US300 billion worth of Chinese goods to 15 per cent from 10 per cent.

The US 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.

 

A barge pushes a container ship to the dockyard in Qingdao in eastern China's Shandong province. President Donald Trump's latest tariff hikes on Chinese goods took effect Friday and Beijing said it would retaliate. Picture: AP
A barge pushes a container ship to the dockyard in Qingdao in eastern China's Shandong province. President Donald Trump's latest tariff hikes on Chinese goods took effect Friday and Beijing said it would retaliate. Picture: AP

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