With the U.S. and China restarting trade talks in Shanghai this week, President Donald Trump has today made a surprise announcement on Twitter that he will impose an additional 10% tariff on $300 billion of Chinese-made products on September 1, including iPhones, Toys, and more, CNN is reporting.
According to a White House official, the tweet comes in the wake of a meeting this week at which the president got a report from Treasury Secretary Mnuchin and Trade Representative Robert Lighthizer on their recent meetings in Shanghai.
“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!,” Trump said on Twitter.
…during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%…
— Donald J. Trump (@realDonaldTrump)
The trade war between the U.S. and China has been going on for over a year and a half. Trump hiked tariffs to 25% from 10% on $200 billion in Chinese goods back in May, following which China said a trade deal will not be reached unless the existing duties were stripped.