Provoking an open trade war, US President Donald Trump urged the country’s companies to abandon China right away in a response to China’s new tariffs in which duties on American items have been hiked.
China is all set to impose tariffs of 5% to 10% on 5,078 US items from September 1 and December 15 this year. Further it finalized to reimpose a 25% tariff on US autos and a 5% tariff on auto parts from December 15. It is reminded that earlier this year China had removed the tariffs as a goodwill gesture while bilateral trade talks were underway.
China’s new tariff is a tit-for-tat move for the US as Trump administration imposed steep tariffs on $250 billion in Chinese goods, with another $300 billion in imports targeted in the next rounds. Upon the China’s recent announcement, Trump announced to hike the tariffs 5% further.
Taking his Twitter handle, Trump heavily criticized China with foul words — “We don’t need China and, frankly, would be far… better off without them.”
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far….
— Donald J. Trump (@realDonaldTrump) August 23, 2019