whisk to hike import tax to 25% is blow to hopes that US and China were closing in on dealDonald Trump has escalated the trade war with China by announcing plans to hike the tariff imposed on $200bn of Chinese goods from 10% to 25% on Friday.
The US president also threatened to impose tariffs on all Chinese trade with America,a whisk that could further destabilise relations between the two economic powers.
For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of tall Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our distinguished economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars....#Trump threat to impose 25% #tariffs on remaining Chinese goods may ironically be a sign of real progress. US,#China are nearing final deal but were bound to hit a wall. China shd bear been expecting the Trump threat in final stages, could bear compromise in back pocket ready..
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Source: theguardian.com