United States President Donald Trump has directed the US trade office to impose 10 percent tariffs on $200 billion worth of Chinese goods, citing “unacceptable” policies by the Chinese, as he continues his trade war with Beijing.
In a statement published by the White House, President Trump stated: “I have directed the United States Trade Representative to identify $200billion worth of Chinese goods for additional tariffs at a rate of 10 percent.
“After the legal process is complete, these tariffs will go into effect if China refuses to change its practices, and also if it insists on going froward with the new tariffs that it has recently announced.”
The President previously announced plans to implement tariffs on $50billion worth of imports from China on Friday.
Commenting on these plans, President Trump said: “These tariffs are being imposed to encourage China to change the unfair practices identified in the Section 301 action with respect to technology and innovation.
“They also serve as an initial step toward bringing balance to our trade relationship with China.”
President Trump’s decision to increase the tariffs against China comes after Beijing vowed to implement retaliatory tariffs on $50billion worth of US exports to China.
The US leader commented on these actions, stating: “China apparently has no intention of changing its unfair practices related to the acquisition of American intellectual property and technology.
“Rather than altering those practices, it is now threatening United States companies, workers and farmers who have done nothing wrong.”
Hitting back at the President’s trade policies, China has raised import duties on billions of dollars of US goods including soybeans, electric cars, whiskey and lobsters.
Beijing announced it was responding to President Trump’s tariffs in “equal scale”, and unveiled 25 percent duties on $50billion in US imports, express.co.uk tells us.
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