Donald Trump has announced that it wants to increase customs rates against Chinese goods to 104 percent. The US president wants to achieve this with a surcharge of 50 percentage points about the existing measures that should continue to heat the trade war.
According to the will of Trump, the collection of measures should come into effect on 9 April, he announced on Monday on his social social platform. This should cause a real price shock for American consumers and let the markets crash.
The American president wants to understand his customs rider as revenge for Beijing’s retaliation measures against his original announcement. Trump added that he would therefore increase “extra rates for China compared to 50 percent with effect from 9 April” if China “will not take back his increase of 34 percent until tomorrow”.
The Republican announced that he was ready to let the situation escalate endlessly and promised a demolition of all “conversations with China about the meetings with us”.
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Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
