This archive report was first published on 24 August 2019.
On August 24, 2019, US President Donald Trump announced a major escalation of the trade war with China, raising existing and planned tariffs in retaliation for Beijing's announcement of new duties on American goods.
Trump criticized the 'unfair trading relationship' between the two nations, stating that 'China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!).'
As part of the response, Trump announced that existing 25 percent tariffs on $250 billion in Chinese goods will increase to 30 percent starting October 1, and tariffs on $300 billion in products, due to take effect September 1 at 10 percent, will now be set at 15 percent.
