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China has decided to implement tariffs on $75 billion worth of U.S. goods as the U.S. plans to impose tariffs on $300 billion worth of Chinese products.
These additional tariffs will cover almost all of the remaining U.S. products imported to China.
Move - President - Donald - Trump - Optimism
The move comes as President Donald Trump continues to express optimism when it comes to the trade war with China.
China will impose the tariffs on September 1 and December 15, the same dates as the new U.S. tariffs. U.S. cars will receive a 25% tariff. China slapped a 10% tariff on pork imports. A 5% tariff will go with auto parts and components, soybeans, and crude-oil imports. The Chinese did not include liquified natural gas.
Trump - Tariffs - August - China - Purchases
Trump announced new tariffs in early August, which led to China “freezing purchases of U.S. agricultural products and letting its currency drop to its lowest level in a decade.”
The Wall Street Journal pointed out “[A] weak yuan makes Chinese exports cheaper.”
Affecting the Economy?
I hate tariffs. I do not keep that a secret. However, I refuse to go into...
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