Trump announces new retaliatory tariff hikes « Khabarhub
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Trump announces new retaliatory tariff hikes


24 August 2019  

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WASHINGTON: President Donald Trump has hit back at China by announcing new higher tariffs on imports – escalating a mounting trade war between the two nations.

In a series of tweets on Friday, Trump announced an additional tariff increase of 5% on imports from China.

The move came hours after the president hit out at Chinese plans to hit $75bn (£61bn) of US goods with duties.

Trump described their action as “politically motivated” and has accused them of “taking advantage” of the US.

“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,” Mr Trump tweeted. “As president, I can no longer allow this to happen!”

Mr Trump has also said he had “hereby ordered” American companies to look for alternatives to China and suggested they make products in the US instead.

His furious reaction came after Beijing announced new tariffs on US goods.

China unveiled plans to increase duties between 5% and 10% on more than 5,000 US products including agricultural goods, aircraft and crude oil. It will also reimpose a suspended 25% duty on US car imports.

The new tariffs, set to affect about $75bn of US goods, will be imposed in two stages on 1 September and 15 December.

(Agencies)

Publish Date : 24 August 2019 06:27 AM

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