Trump announces 10% tariffs on $200 bn in Chinese goods

Washington (AFP) – President Donald Trump on Monday announced 10 percent tariffs on $200 billion in Chinese goods, warning Beijing that any retaliation would prompt more than a doubling of the latest punitive trade measures.

The new tariffs will take effect from September 24, Trump said in a statement. 

“Further, if China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports,” he said.

Trump said the tariffs aim to force a change in Chinese trade policies that he said posed “a grave threat to the long-term health and prosperity of the United States economy.”