United States  

Trump slaps new tariffs on China

Video Credit: Reuters Studio - Duration: 01:26s - Published
Trump slaps new tariffs on China

Trump slaps new tariffs on China

U.S. President Donald Trump said on Thursday he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept.

1, as talks aimed at easing tensions between the world’s two largest economies continue.

Roger Fortuna reports.

0
shares
ShareTweetSavePostSend
 

(SOUNDBITE) (English) US PRESIDENT DONALD TRUMP SAYING: "We've taxed China on 300 billion dollars worth of goods." U.S. President Donald Trump on Thursday announced that he will impose bruising new tariffs on China, as talks on a possible trade deal bog down.

Trump said he'll slap an additional 10 percent tariff on 300 billion dollars worth of Chinese import starting September 1st.

This is in addition to the earlier 25 percent tariffs placed on some 250 billion dollars of Chinese goods.

(SOUNDBITE) (English) US PRESIDENT DONALD TRUMP SAYING: "So know it's time that we change things around.

If they don't want to trade with us anymore that would be fine with me." The dramatic move comes as the most recent round of talks to ease the trade war between the world's two biggest economics ended in Shanghai when US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer headed back to Washington with no deal in sight and no sign of real progress.

Trump also took direct aim at China's President Xi Jinping, blasting Xi for failing to stop the sale of the opioid Fentanyl to the U.S. (SOUNDBITE) (English) US PRESIDENT DONALD TRUMP SAYING: "It's all coming out of China.

He didn't do that.

We're losing thousands of people to Fentanyl.

And this was time." The Dow experienced its biggest swing since January on the news, ending the day down 280 points.



Related news from verified sources

Apple, Silicon Valley chip stocks hammered after Trump's 'shot across the bow'

Shares of Apple and Silicon Valley's semiconductor companies were pummeled on Friday as President...
bizjournals - Published

Trump threatens 10% tariffs on China starting Sept. 1

WASHINGTON (AP) β€” President Donald Trump says the U.S. will apply a new tariff of 10% on about $300...
Seattle Times - Published


You Might Like


Tweets about this


Related videos from verified sources

Block Out the Noise on China [Video]

Block Out the Noise on China

There is a constant barrage of news related to the U.S.- China trade war. Last Friday China said that they are retaliating with tariffs, then Donald Trump came out and said via tweet that he was..

Credit: The Street     Duration: 01:40Published
Got Whiplash From the Volatility? Breaking Down Burlington, Tesla and Trade War [Video]

Got Whiplash From the Volatility? Breaking Down Burlington, Tesla and Trade War

Happy almost-Friday! Jim Cramer is off, so filling in is Jeff Marks, senior portfolio analyst with Cramer's Action Alerts PLUS charitable trust. Marks will be weighing in on market volatility, the..

Credit: The Street     Duration: 07:29Published