WASHINGTON: President Donald Trump hit back at China on Friday in their mounting trade war, raising existing and planned tariffs in retaliation for Beijing’s announcement earlier in the day of new duties on American goods.
Trump slammed the “unfair Trading Relationship,” and said “China should not have put new tariffs on 75 BILLION DOLLARS (US$75 billion) of United States products (politically motivated!).”
The promised response – which came in a signature Trump tweet storm – said existing 25% tariffs on US$250 billion in Chinese goods will increase to 30% starting Oct 1.
And tariffs on US$300 billion in products, due to take effect Sept 1 at 10%, will now be set at 15%, he said.