Trump slaps retaliatory tariffs on Chinese goods

President Donald Trump announced in a series of Twitter posts on Friday that he would be imposing a higher rate of tariffs on some Chinese imports, after China earlier in the day said it would be slapping tariffs on $75 billion worth of U.S. goods.
The additional levies are set to roll out in two tranches. The $300 billion worth of imports from China that were set to be taxed at a 10% rate on September 1 will now be taxed at 15%. And starting October 1, the $250 billion worth of Chinese imports currently taxed at 25% will be taxed at 30%, Trump said.
Trump’s announcement came about an hour after market close Friday. Earlier in the session, the Dow fell more than 700 points intraday after Trump wrote in Twitter post that he was ordering U.S. companies to “immediately start looking for an alternative to China” in their business operations.
In the posts,

Emily McCormick

Trump slaps retaliatory tariffs on Chinese goods

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