Trump slam china with more tariffs


US President Donald Trump has announced he will hit China with punitive tariffs on another $300 billion in goods.

The 10 percent duties will take effect September 1, and come on top of the 25 percent tariffs on $250 billion in imports already in place.

Trump’s move jolted US and Asian stock markets and came just a day after US and Chinese trade negotiators revived talks aimed at ending the year-long dispute.

The announcement means virtually all of the $660 billion in annual trade between the world’s two biggest economies will have tariffs on it.

Trump later raised the possibility he could increase the duties further.

China has yet to say whether and how it will retaliate, but it has hinted in recent months that it could restrict exports of rare earths, which are vital to the US tech industry.

Leave a Reply

Your email address will not be published.