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Trump Threatens to Triple Tariffs on Chinese Goods
The Trump administration, which plans to levy $50 billion in tariffs on 1,300 imported Chinese products, threatened yesterday to hike those taxes by another $100 billion.
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The Trump administration, which plans to levy $50 billion in tariffs on 1,300 imported Chinese products, threatened yesterday to hike those taxes by another $100 billion.
The escalation came a day after China vowed to respond to the U.S. tariffs by imposing $50 billion in retaliatory taxes on 106 products imported from the U.S.
The White House announced the initial round of tariffs to pressure China to equalize its own tariffs and ease its intellectual property policies for U.S. companies. China has filed a protest with the World Trade Organization, launching a review process likely to take months to resolve.
President Donald Trump describes China’s retaliatory tariffs as “unfair.” He says he has asked the U.S. trade office to consider tripling the tariffs on Chinese goods because, “rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers.”
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