Articles Tagged with ''tariffs''

Democratic presidential hopefuls are raising alarms and lashing out at President Donald Trump’s handling of the dispute that’s expected to escalate even further next month.

The U.S.-China trade war escalated again for the second time Friday after President Donald Trump declared the U.S. would increase rates for existing tariffs on $250 billion of Chinese goods as well as boost tariffs on $300 billion worth of imports that haven’t yet been levied.

China announced Friday it will increase tariffs on $75 billion worth of U.S. agricultural and other goods by 5-10% in retaliation for U.S. plans to hit about $300 billion worth of Chinese exports with new import taxes.

China on Thursday issued a stern new warning that it will be forced to retaliate if the U.S. follows through on a threat to levy new import tariffs, beginning Sept. 1.

Top U.S. and Chinese trade officials met over the phone Tuesday to try to further negotiations to end the countries’ trade war, said to President Donald Trump, who said the negotiations were “productive” and offered optimism that a conclusion could come soon.

China, in retaliation for new U.S. tariffs, revoked its latest goodwill gesture of exempting some Chinese importers from its own tariffs on U.S. soybeans, but at least one U.S. shipment will get through unscathed, according to U.S. government and industry officials.

President Donald Trump said Thursday he will hit roughly $300 billion worth of Chinese goods — effectively the only goods remaining untaxed in the ongoing trade war — with a 10% tariff on Sept. 1, raising concerns that the recently renewed trade talks are not going well.