On August 1, President Trump announced his intent to impose a 10% duty on an additional $300 billion worth of Chinese goods coming into the United States. Trump’s statement, which was released via Twitter, highlighted his apparent frustration following U.S.-China trade talks that took place earlier in the week in Shanghai. Despite the White House describing the negotiations as “constructive,” Trump’s decision to apply more pressure on Beijing was met with pushback, with China responding that the country would not hesitate to take countermeasures if necessary. The new tariffs are scheduled to take effect on September 1.
August 2, 2019