News

Trump raises existing tariffs on China

President Trump is raising the existing tariffs on China. 

Trump said in a tweet Friday afternoon China should not have announced a counter-tariff on 75-billion dollars’ worth of U.S. products, which he called “politically motivated.”  He says starting October 1st, the 250-billion dollars’ worth of goods and products from China currently being taxed at 25% will be taxed at 30% instead.  In addition, the remaining 300-billion dollars’ worth of Chinese goods and services under a 10% tariff since September 1st will be increased to 15%.

Trump repeated his call for ending China’s theft of intellectual property.  He also plans to order shipping companies to search for and refuse all deliveries of Fentanyl, which he says Chinese President Xi has failed to stop.

The U.S. Trade Representative’s office confirmed the new tariffs and says the changes will be published in the Federal Register as soon as possible.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!