Trump raises tariffs on China again
US President Donald Trump announced that he will once again increase the tariff rate applied to China. Trump also announced that new tariffs for countries other than China have been postponed for 90 days.
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Trump announced that he will increase the tariff rate applied to China to 125 percent.
US President Donald Trump stated regarding the increase, "I am raising the applied tariff, effective immediately."
In a statement on his social media account, Trump noted the following:
"Given China's disregard for World Markets, I am immediately raising the tariffs the US imposes on China to 125 percent.
I hope that at some point in the near future, China will understand that the days of exploiting the US and other countries are no longer sustainable or acceptable."
POSTPONED FOR 90 DAYS
In the remainder of his statement, Trump announced that new tariff rates have been postponed for 90 days for 75 countries that have not decided to retaliate against the US. During this period, these countries will only pay the base tax of 10 percent...