US to Impose Additional 10% Tariff on Chinese Goods Worth $300 Bn Even as Trade Talks Continue
In a string of tweets, Trump also faulted China for not following through on promises to buy more American agricultural products and said that the tariffs would be effective September 1.
A file photo of US President Donald Trump. (PTI)
Washington: United States President Donald Trump on Thursday said he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting September 1 as talks aimed at easing tensions between the world's two largest economies continue.
"Trade talks are continuing, and during the talks the US will start, on September 1st, putting a small additional tariff of 10% on the remaining 300 billion dollars of goods and products coming from China into our country. This does not include the 250 billion dollars already tariffed at 25%," Trump said on Twitter.
In a string of tweets, Trump also faulted China for not following through on promises to buy more American agricultural products and personally criticised Chinese President Xi Jinping for failing to do more to stem sales of the synthetic opioid fentanyl.
"We look forward to continuing our positive dialogue with China on a comprehensive trade deal, and feel that the future between our two countries will be a very bright one," he continued.
US stock prices fell after Trump's announcement, with the Dow Jones Industrial Average falling into negative territory.
US and Chinese negotiators ended two days of talks in Shanghai on Wednesday with little sign of progress, although both countries described the negotiations as constructive. Another round of meetings between the negotiators has been scheduled for September.
Both countries have been locked in a trade war marked by tit-for-tat tariffs since last year. The tensions have disrupted global supply chains and roiled financial markets.
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