Pointing to China’s repeated failures to live up to previous agreements, President Donald Trump today said that he would add a 10% tariff on the remainder of Chinese imports.
” We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing,” Trump tweeted Thursday. “More recently, China agreed to buy agricultural product from the U.S. in large quantities, but did not do so. Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States – this never happened.”
“Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country,” he added.
The U.S. currently adds a 25% tariff to more than $250 billion in trade goods from China and the new tariffs would mean that 100% of trade goods from them would face import taxation.
The decision came after a U.S. trade delegation to China returned without an agreement, but Trump said that they remain positive on the prospect of a fair trade deal with Beijing.
“We look forward to continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!” Trump posted on Twitter.
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