May 5, 2019
Donald Trump has said he will raise tariffs on $200bn of Chinese goods this week, because talks on a US-China trade deal are moving “too slowly”.
The US president tweeted that tariffs of 10% on certain goods would rise to 25% on Friday, and $325bn of untaxed goods could face 25% duties “shortly”.
“The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” he tweeted.
The countries have seemed near to striking a trade deal in recent weeks.
For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars….
Mr Trump delayed further tariff increases earlier in the year, citing progress in talks.
The move increases pressure on China as Vice Premier Liu He prepares to travel Washington this week to resume negotiations. [FULL STORY]