Trading Partners: Import Tariffs

trading partners: What is Trump threatening to do In two tweets posted on Sunday afternoon the president accused China of trying to renegotiate the trade deal being hammered out between Washington and Beijing after months of talks, according to The Independent. Trump threatened to ratchet up existing import tariffs of 10% on 200bn 153bn of Chinese goods sold in the US to 25% on Friday. Here are the answers to key questions about the rumbling dispute between the world's two largest economies. He also warned that 25% tariffs could be slapped on a further 325bn of goods in future which would mean all Chinese imports being covered by tariffs. They come on top of broader tariffs used by Trump that have hit China and other trading partners such as the EU, Canada and Mexico, on goods including steel and aluminium. Markets tumble after Trump threatens to dramatically increase China tariffs Read more What tariffs are in place already Tariffs have been imposed by Washington on some Chinese goods sold in the US for about a year, as part of the ongoing dispute over trade. (news.financializer.com). As reported in the news.