President Donald Trump says he intends to apply an additional 10% tariff on goods imported from China.
The announcement is the latest move in the ongoing trade war between the two countries. Imports from China already incur a minimum 10% levy, but Trump’s fresh threat would push the levy even higher.
In early February, The Dallas Express reported that China announced a new 15% tariff on imported American coal and liquified natural gas. Crude oil, agricultural machinery, and large-engine cars from the United States would also be subject to a new tax, albeit slightly less at 10%.
China’s Ministry of Foreign Affairs expressed its strong “dissatisfaction and resolute opposition” to Trump’s tariff plans, per the BBC.
On Thursday, the President also reiterated his intention to move forward with 25% tariffs on imports from neighboring countries Canada and Mexico. Those levies are set to begin on March 4. […]
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Trump thinks the U.S. is going to get big money from tariffs. He has no idea of who pays the tariffs. Buying will stagnate due to high prices and economies will slow to a crawl. It looks like Carter, O’bummer and Brib’em are going to face some stiff competition for worse president of all time.