8/1/2019, 7:37 PM (Source: TeleTrader)
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Trump to place 10% tariff on remaining Chinese goods on Sep 1

United States President Donald Trump announced on Thursday that he will place a 10% tariff on the remaining $300 billion of Chinese goods from September 1.

"Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to buy agricultural product from the U.S. in large quantities, but did not do so. Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States – this never happened, and many Americans continue to die! Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%. We look forward to continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!" Trump said in a series of tweets.

Trump's decision comes after the two countries concluded their trade negotiations in Shanghai on Wednesday. Although the White House said that the talks were "constructive" and China started purchasing more agricultural products from the US, Trump nevertheless decided to impose the tariffs on the world's second-largest economy.

Breaking the News / DZ