US to raise tariffs on $200 billion of Chinese goods up to 25%
In announcing the tariff hike, US President Donald Trump complained that trade talks with China were moving "too slowly." The tariff increases on $200 billion of Chinese goods are set to start by the end of the week.
US President Donald Trump increased pressure on China on Sunday when he announced that US tariffs on certain Chinese products would rise from 10% to 25% on Friday.
More Chinese goods are to face additional tariffs, he said.
"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," Trump wrote on Twitter on Sunday.
"The 10% will go up to 25% on Friday, he added.
Donald J. Trump
✔@realDonaldTrump
· 2h
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....
Donald J. Trump
✔@realDonaldTrump
....of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%. The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!
31.2K
7:08 PM - May 5, 2019
Twitter Ads info and privacy
12.1K people are talking about this
In the announcement on Twitter, Trump said that talks to secure a trade deal with China are continuing, but are moving "too slowly."
Tariff truce ends
The tariff hike would be the first to occur since Trump and Chinese President Xi Jinping agreed to a tariff truce in December to avoid further escalation in the trade war between Washington and Beijing.
Trump delayed a planned tariff increase earlier this year, citing progress in trade talks with China.
The announcement on Sunday came as a surprise, as Trump had said that the negotiations with China were going well as recently as Friday.
Chinese officials are also expected to arrive in Washington for trade talks on Wednesday.
Watch video01:50
US and China 'weeks' away from trade deal
Tense trade talks
The United States imposed a 10% tariff on more than $200 billion (€178 billion) in Chinese goods last September. China retaliated by levying tariffs amounting to some $110 billion on US goods.
Washington has accused Beijing of harming US companies by stealing US technology and intellectual property, manipulating its currency and subsidizing domestic producers.
The trade dispute between the world's two largest economies has sparked fears on financial markets.
Watch video01:39
EU wary of China's economic diplomacy
jm/rs (Reuters, dpa, AFP)
https://www.dw.com/en/us-to-raise-tariffs-on-200-billion-of-chinese-goods-up-to-25/a-48610158
In announcing the tariff hike, US President Donald Trump complained that trade talks with China were moving "too slowly." The tariff increases on $200 billion of Chinese goods are set to start by the end of the week.
US President Donald Trump increased pressure on China on Sunday when he announced that US tariffs on certain Chinese products would rise from 10% to 25% on Friday.
More Chinese goods are to face additional tariffs, he said.
"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," Trump wrote on Twitter on Sunday.
"The 10% will go up to 25% on Friday, he added.
Donald J. Trump
✔@realDonaldTrump
· 2h
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....
Donald J. Trump
✔@realDonaldTrump
....of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%. The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!
31.2K
7:08 PM - May 5, 2019
Twitter Ads info and privacy
12.1K people are talking about this
In the announcement on Twitter, Trump said that talks to secure a trade deal with China are continuing, but are moving "too slowly."
Tariff truce ends
The tariff hike would be the first to occur since Trump and Chinese President Xi Jinping agreed to a tariff truce in December to avoid further escalation in the trade war between Washington and Beijing.
Trump delayed a planned tariff increase earlier this year, citing progress in trade talks with China.
The announcement on Sunday came as a surprise, as Trump had said that the negotiations with China were going well as recently as Friday.
Chinese officials are also expected to arrive in Washington for trade talks on Wednesday.
Watch video01:50
US and China 'weeks' away from trade deal
Tense trade talks
The United States imposed a 10% tariff on more than $200 billion (€178 billion) in Chinese goods last September. China retaliated by levying tariffs amounting to some $110 billion on US goods.
Washington has accused Beijing of harming US companies by stealing US technology and intellectual property, manipulating its currency and subsidizing domestic producers.
The trade dispute between the world's two largest economies has sparked fears on financial markets.
Watch video01:39
EU wary of China's economic diplomacy
jm/rs (Reuters, dpa, AFP)
https://www.dw.com/en/us-to-raise-tariffs-on-200-billion-of-chinese-goods-up-to-25/a-48610158
