Trump boosting U.S. tariffs on $550 billion in Chinese imports
2019-08-24 09:10:58 source：CBS News
August 23, 2019
President Donald Trump tweeted on Friday that his administration will boost tariffs on $550 billion in Chinese imports in retaliation for China's decision on Friday to hike trade levies on $75 billion in U.S. products. The move deepens a trade war that many fear could tip the U.S. and global economies into recession.
The president said U.S. tariffs on $250 billion in Chinese imports will increase from 25% to 30% on October 1. An additional $300 billion in Chinese goods will be taxed at 15%, instead of 10%, starting on September 1. The stepped-up tariffs means the U.S. has hiked taxes on virtually all goods imported from China.
"China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!)," Mr. Trump tweeted on Friday afternoon.
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