US President Donald Trump escalated the economic war with China despite the continuing talks between the two countries to ease tensions.
Trump said on Thursday August 1st he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting on September 1st.
"Trade talks are continuing, and during the talks the US will start, on September 1st, putting a small additional Tariff of 10% on the remaining $300 billion of goods and products coming from China into our Country. This does not include the $250 billion already tariffed at 25%," Trump tweeted.
“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!”, he added.
Trump blamed China for not following through on stopping the sale of fentanyl to the United States or purchasing farm goods in large quantities.
The US has already applied tariffs of 25% on $250 billion worth of goods from China.
China retaliated with tariffs on $110 billion in American goods, including agricultural products, in a direct shot at Trump supporters in the US farm belt.