More tariffs are on the way.
President Donald Trump’s administration announced Friday it has increased tariffs on more than $200 billion worth of Chinese imports to 25 percent. This announcement follows last year’s decision to implement 10 percent tariffs on the goods.
Though a large segment of the products impacted by the tariff are retail goods, raw metals and ores also are found on the list of goods. Additionally, Trump told reported Thursday that the U.S. also is considering imposing new 25 percent tariffs on $325 billion other Chinese goods that are not currently taxed, the Wall Street Journal reports.
“I’m different than a lot of people,” said Trump. “I happen to think the tariffs for our country are very powerful.”
Those beliefs were echoed on social media, where Trump touted the tariffs as beneficial for U.S. farmers and manufacturing businesses who choose to focus exclusively on U.S. production.
Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch! In the meantime, China should not renegotiate deals with the U.S. at the last minute. This is not the Obama Administration, or the Administration of Sleepy Joe, who let China get away with “murder!”
— Donald J. Trump (@realDonaldTrump) May 10, 2019
