Trump Imposing 10% Tariffs On $300 Billion Worth Of Chinese Goods

The tariffs will take effect on September 1st, 2019.

The Trade War between the world’s two largest economies continues to expand.

With China having reneged on a deal to purchase more US products, and after recent talks in Shanghai failed to result in an agreement, US President Donald Trump is hitting China with 10% tariffs on $300 billion worth of goods from the Communist State.

The tariffs are in addition to those that already exist, as Trump imposed tariffs of 25% on $200 billion worth of Chinese products.

Here’s what Trump said on Twitter:

“Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to…”

“…buy agricultural product from the U.S. in large quantities, but did not do so. Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States – this never happened, and many Americans continue to die! Trade talks are continuing, and…”

“…during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%…”

“…We look forward to continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!”

At this point, it is becoming clear that Trade War is the New Normal.

Spencer Fernando

Photo – YouTube