Originally published at: AMERICA FIRST: Trump to SLAP 25% Tariff on $200 BILLION of Chinese Products | Sean Hannity
President Trump is poised to slam China with a whopping 25% tariff on approximately $200 billion worth of goods; escalating a potential trade war with one of the United States largest trading partners.
According to CNBC, the White House plans on imposing an initial 10% tariff on Beijing, with that number slowly rising to 25% by the end of 2018.
“The action, announced by the Trump administration Monday, escalates a trade conflict between the world’s two largest economies. China has already threatened to retaliate against new duties,” writes CNBC.
The Trump administration simultaneously announced the removal of 300 foreign-produced goods from the list of taxed products; including smart phones and other electronic devices.
The President warned the tariffs could go even higher Should Beijing move to harm American manufacturers, saying “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.”
