President Donald Trump confirmed to reporters on an Air Force One flight to Montana Thursday that tariffs on $34 billion in Chinese goods will go into effect at the end of the night, another $16 billion in two weeks, and another up to $500 billion more if China refuses to change unfair trade practices, Breitbart reports.
President Trump confirmed that tariffs on $34 billion in Chinese goods will go into effect Thursday at midnight due to failed trade talks with China.
“Then as you know we have 200 billion in abeyance and then after the 200 billion we have 300 billion in abeyance,” he noted.
President Trump announced the tariffs on $50 billion of Chinese goods in April. The Office of U.S. Trade Representative Robert Lighthizer released the list of categories of products affected. The tariffs were issued on the basis of combatting unfair Chinese trade practices.
China retaliated against the announcement with threats of a matching volume of tariffs on U.S. goods.
Trump didn’t back down, but rather raised the stakes with the threat of even more tariffs on China. He quickly proposed potential tariffs on another $100 billion in Chinese goods.
China’s Commerce Ministry warned on Thursday that new American tariffs will be met by the Chinese Government and will be considered an act of hostility.
“China will not bow down in the face of threats and blackmail and will not falter from its determination to defend free trade and the multilateral system. U.S. measures are essentially attacking global supply and value chains. To put it simply, the U.S. is opening fire on the entire world, including itself.” ~ Commerce Ministry spokesman Gao Feng
President Trump wasted no time in responding to China’s warning and the President did not pull any punches as well.
“After the legal process is complete, these tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced, If China increases its tariffs yet again, we will meet that action by pursuing additional tariffs on another $200 billion of goods. The trade relationship between the United States and China must be much more equitable.
Ok? So we have 50 plus 200 plus almost 300.” ~ President Donald Trump
Chris “Badger” Thomas is a Veteran who served our country as an Army Combat Medic.