Trump doubles tariffs on Chinese goods - Bloomberg
Photo: Donald Trump (Getty Images)
US President Donald Trump has decided to double tariffs on goods from China, increasing them from 10% to 20%, according to Bloomberg.
As stated in the source, the White House later said Trump also signed an order doubling a tariff on China to 20% that will take effect shortly after midnight in Washington.
The directive said Beijing had not taken adequate steps to address the flow of illicit fentanyl into the US.
Beijing is considering retaliation on American agriculture and food products in response to tariffs from the Trump administration, according to the Global Times.
In addition to China, Canada and Mexico will also be subject to the new 25% tariffs, which had previously been postponed. Trump announced that starting Tuesday, the tariffs will be imposed on these countries.
This will be a significant blow to the two largest trading partners of the US and underscore the American president's desire to reshape global trade.
“No room left for Mexico or for Canada,” Trump told reporters Monday when asked if the US’s North American neighbors could reach a deal to put off the duties, as they did a month ago.“
“They’re all set. They go into effect tomorrow,” stated Trump.
