Fri. Mar 29th, 2024
Trump is not happy with China

Washington, May 14: United States President Donald Trump has said he is prepared to impose additional tariffs on virtually all Chinese imports to America as the trade war between the world’s two largest economies intensified.

“We have the right to do another $325 billion at 25 per cent in additional tariffs. That is a tremendous amount of money that would come into our country. I have not made that decision yet,” Efe news quoted Trump as saying to reporters while welcoming Hungarian Prime Minister Viktor Orban to the White House on Monday.

Trump’s comments came hours after China increased from 10 per cent to 25 per cent the tariffs it levied last year on $60 billion worth of US imports.

Beijing was retaliating for Trump’s decision last week to enact an identical increase in the US import duties applied since last year to $200 billion worth of Chinese products.

Asked about the latest move from Beijing, Trump said he wasn’t concerned about the impact on the US economy.

“I love the position we’re in. There can be some retaliation, but it can’t be very, very substantial, by comparison. And out of the billions of dollars that we’re taking in, a small portion of that will be going to our farmers because China will be retaliating, probably, to a certain extent, against our farmers,” he said.

Trump said he was planning a $15 billion aid package for US farmers hurt by Chinese tariffs.

 

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