Friday, August 2, 2019

Trump threatens another 10 per cent tariff on China

United States President Donald Trump is threatening to hike tariffs of 25 per cent another 10 per cent to 35 per cent on Sept. 1.

The threat follows negotiations in Shanghai that failed to reach a deal. Trump said negotiations will continue.

He accused China of failing to stop fentanyl shipments into the United States and failing to honour its promise to increase purchases of U.S. agricultural products.

The existing 25 per cent tariffs apply to about $250 billion worth of Chinese goods; the threat to add 10 per cent applies to about $300 billion worth.