JUST IN: Pres. Trump fires back at China, announcing tariffs will increase to 30% in October. The move follows a 600-point drop in the stock market today amid concerns about the escalating U.S.-China trade war.
After China announced a new round of retaliatory tariffs on U.S. goods on Friday, President Trump struck back later in the day by raising the rate of U.S. tariffs on Chinese goods.
For many years China has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight.... Just after Powell spoke, Trump again blasted the Fed -- saying in a tweet that it"did NOTHING" -- and questioning who was"our bigger enemy" -- Powell or China's President Xi Jinping.China said that it would impose its new penalties on two batches of goods, on Sep. 1 and Dec. 15, according to the official Chinese news agency Xinhua. It said 5,078 American products would see duty hikes of 5 or 10%, and that on Dec.
....better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing.. The U.S. Chamber of Commerce said that"continued tit-for-tat escalation between the U.S. and China is putting significant strain on the U.S. economy, raising costs, undermining investment, and roiling markets."
This week, as the economy flashed warning signs of a possible downturn, the president suggested a variety of remedies -- even as he argued they were unnecessary.
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