VIDEO: U.S. Increases Tariffs On Chinese Goods From 10-Percent to 25-Percent
By CBS News // May 10, 2019
tariffs went into effect at midnight
ABOVE VIDEO: U.S. and China butt heads on trade as Trump threatens more tariffs.
(CBS NEWS) – At President Trump’s direction, the U.S. increased tariffs from 10 percent to 25 percent on $200 billion worth of Chinese goods, escalating a prolonged trade feud between the world’s largest economies.
The tariff hike, which went into effect Friday, was announced by Mr. Trump earlier in the week after he accused China’s trade representatives of backtracking on a potential agreement.
The White House said late Thursday talks would continue Friday despite that the tariffs went into effect at midnight.
Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer had a working dinner Thursday with Vice Premier Liu He.
The White House said late Thursday talks would continue Friday despite that the tariffs went into effect at midnight. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer had a working dinner Thursday with Vice Premier Liu He.
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