Trade war escalates as Trump increases tariffs on Chinese imports | Sky News Australia

US President Donald Trump has announced he'll increase tariffs on billions of dollars of Chinese goods and products in an extraordinary escalation of the trade war. Trump lashed out after China announced retaliatory hikes on more than $100 billion of American products. He took to Twitter and said: “For many years China has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. ....

Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer. As President, I can no longer let this happen!" The US will raise tariffs on $250 billion of Chinese imports to 30 per cent from the current 25 per cent from October 1. President Trump earlier ordered all American companies to abandon operations in China.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump 'orders' US companies to cut ties with China amid escalating trade warChina will impose retaliatory tariffs in the latest tit-for-tat exchange in a protracted dispute between the world's top two economies.
Source: smh - 🏆 6. / 80 Read more »

'Trump is having a tantrum': Shares tumble as US-China trade war deepensThe US and Chinese governments have announced major new tariffs on each others' goods, a dramatic escalation in trade tensions that has alarmed investors and sent stocks plunging, writes KnottMatthew
Source: theage - 🏆 8. / 77 Read more »

'Trump is having a tantrum': Shares tumble as US-China trade war deepensTrump ordered business leaders to immediately seek alternatives to China and accused the Chair of the US Federal Reserve of being an enemy of America.
Source: smh - 🏆 6. / 80 Read more »

US companies 'hereby ordered' by Trump to look for alternatives to ChinaStocks tumble on Wall Street as President Donald Trump tweets that US companies should immediately start looking for an alternative to doing business in China after Beijing announced a series of retaliatory tariffs.
Source: abcnews - 🏆 5. / 83 Read more »