Trade boxing: Trump announced on Thursday that he would impose a 10% tariff on a further US$300bil in Chinese imports, a move set to hit American consumers more directly than any other in his trade wars so far. — Reuters
WASHINGTON: President Donald Trump abruptly escalated the trade war with China, throwing the focus on how Beijing will respond to a step that threatens to scupper the chances of a deal between the two sides.
Trump announced on Thursday that he would impose a 10% tariff on a further US$300bil in Chinese imports, a move set to hit American consumers more directly than any other in his trade wars so far. The new import taxes, which Trump later said could go “well beyond” 25%, will be imposed beginning Sept 1 on a long list of goods expected to include smartphones, laptop computers and children’s clothing.
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