US-China trade war: Trump announces new retaliatory tariff hikes
Written by Millennium on August 25, 2019
WASHINGTON – President Donald Trump has hit back at China by announcing new higher tariffs on imports – escalating a mounting trade war between the two nations.
In a series of tweets on Friday, Mr Trump announced an additional tariff increase of 5% on imports from China.
The move came hours after the president hit out at Chinese plans to hit $75bn (£61bn) of US goods with duties.
Mr Trump described their action as “politically motivated” and has accused them of “taking advantage” of the US.
“Sadly, past administrations have allowed China to get so far ahead of fair and balanced trade that it has become a great burden to the American taxpayer,” Mr Trump tweeted. “As president, I can no longer allow this to happen!”
Mr Trump has also said he had “hereby ordered” American companies to look for alternatives to China and suggested they make products in the US instead.
SOURCE: BBC News