Escalating his trade war with China, President Donald Trump bumped up his tariffs on Chinese imports Friday, lashing back after Beijing raised taxes on U.S. products.
The Associated Press reported that In a tweet, Trump said he would be raising planned tariffs on $300 billion in Chinese goods from 10 percent to 15 percent. The Office of the U.S. Trade Representative also said existing tariffs on another $250 billion in Chinese imports would go from 25% to 30% Oct. 1 after receiving feedback from the public.
The move came hours after Beijing said it would hike tariffs on $75 billion in U.S. imports, escalating a conflict over trade and technology that threatens to tip a fragile global economy into recession.
Though expected, the president appeared caught of the president appeared caught off-guard by China’s Friday action, and was angry when he gathered with his trade team in the Oval Office before departing for France, according to two people familiar with the meeting who spoke to AP on condition of anonymity because they were not authorized to disclose closed-door conversations.
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