Tuesday, September 18, 2018

President Trump acts on China

“We have given China every opportunity to treat us more fairly. But, so far, China has been unwilling to change its practices.”

~ President Trump

Trump to hit China with 10% tariffs on $200 billion in goods. Will rise.

Starting September 24, the U.S. will place tariffs on about $200 billion of Chinese goods, rising to 25% at the end of the year.

Trump: "China is engaged in numerous unfair policies and practices relating to United States technology and intellectual property – such as forcing United States companies to transfer technology to Chinese counterparts."

Chinese response? Following the first round, China retaliated with tariffs of their own, targeting U.S. farmers. Trump says that a similar retaliation will result in "phase three" of wider tariffs." [CNBC]

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