Trump threatens to increase tariffs on China

WASHINGTON – Pushing for a quicker outcome to trade talks with China, President Trump announced he’ll increase tariffs with the country this week.

“For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday,” Trump tweeted Sunday. “325 Billions Dollars of additional goods sent to us by China, but will be shortly, at a rate of 25%.”

Trump went on to explain that China, not the U.S., would take the economic hit by the news.

“The Tariffs paid to the USA have had little impact on product cost, mostly borne by China,” he said.

“The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” Trump added.

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