The trade war between the US and China entered a new phase Friday, raising further risks for Trump a week after a recession warning flashed
The Trump administration said Friday it would retaliate against China's latest tariffs with a tariff increase of its own. The president tweeted that tariffs on the $250 billion of imports already in place will be raised to 30% from 25% on Oct. 1. Trump also said the remaining $300 billion of imports set to go into effect on Sept. 1 will be taxed at 15%, rather than 10%. That added to a rapid series of trade escalations between the world's largest economies.
The Trump administration said Friday it would retaliate against China's latest tariffs with a tariff increase of its own. The president tweeted that tariffs on the $250 billion of imports already in place will be raised to 30% from 25% on Oct. 1. Trump also said the remaining $300 billion of imports set to go into effect on Sept. 1 will be taxed at 15%, rather than 10%. That added to a rapid series of trade escalations between the world's largest economies.
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