Trump increases tariffs on Chinese goods hours after slamming Fed chief
President Donald Trump on Friday announced a new round of tariffs on Chinese goods in retaliation for new Chinese tariffs on $75 billion in U.S. goods.
Trump said in a statement Friday that the White House would be raising tariffs on $250 billion worth of Chinese products to 30 percent from 25 percent, effective Oct. 1. In addition, the 10 percent tax on the remaining $300 billion of Chinese imports will be raised to 15 percent on Sept. 1.
“China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!),” Trump tweeted.
If this is not a full fledged trade war, then what is?