Trump Announces Tariff Increase on Chinese Goods, Citing Slow Progress in Trade Talks – IOTW Report

Trump Announces Tariff Increase on Chinese Goods, Citing Slow Progress in Trade Talks

Epoch Times:

In a surprise announcement on Twitter, U.S. President Donald Trump said on May 5 that tariffs on $200 billion worth of Chinese goods will increase to 25 percent, from the current 10 percent, beginning May 10.

Trade negotiations between U.S. and Chinese officials had been continuing in hopes of reaching an agreement.

Trump added that an additional $325 billion worth of Chinese goods—the remainder of the total value of Chinese imports into the country—which currently don’t have duties, will have 25 percent tariffs imposed on them “shortly.”

Trump’s Tweets

In his Twitter post, Trump criticized the trade talks for progressing too slowly, “as they [China] attempt to renegotiate”—then capped off his message with an assertive “No!”

Trump’s decision comes as a shock, as many hoped that both sides could finalize an agreement by May 10, after China’s top trade envoy, Vice Premier Liu He, arrives in Washington with his delegation for the 11th round of trade talks on May 8.

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5 Comments on Trump Announces Tariff Increase on Chinese Goods, Citing Slow Progress in Trade Talks

  1. Trump said he would probably do this, I guess the Chinks didn’t believe him.

    They should now realize Trump doesn’t bluff, or delay without a very good reason which they didn’t give him.

    The Leftists will be unhappy about this, it’s another sign Obama didn’t know what he was talking about.

    5

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