President Donald Trump said he would raise tariffs on $550 billion in Chinese goods in response to new barriers imposed by Beijing.
USA TODAYWASHINGTON – Dramatically escalating the trade war between the United States and China, President Donald Trump on Friday said he would raise tariffs on $550 billion in Chinese goods in response to new barriers imposed by Beijing.
Trump said he would raise from 25% to 30% U.S. tariffs on $250 billion in Chinese goods and would place new tariffs on the remaining $300 billion in goods not currently covered by tariffs. The announcement came hours after China said it would impose its own tariffs on U.S. products, prompting a major market sell off.
"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 posted on Twitter."As President, I can no longer allow this to happen!"Markets plunged Friday as it became clear the trade war between Washington and Beijing was escalating. The Dow Jones Industrial Average was off by more than 600 points by midday, following a series of dramatic declines last week.
"Thank you for your attention to this matter!" Trump wrote, concluding his tweets announcing the new tariffs. Social network: Donald Trump, President of the United States. Trump and Epstein were neighbors in Palm Beach in the 1990s and early 2000s. Trump threw Epstein a 'calendar girl' party at his Mar-a-Lago resort in 1992, according to the New York Times.
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