Photo Credit: Chicago Sun Times

Trump Raises Tariff On 550 Billion USD Of Chinese Imports

US President Donald J. Trump have tweeted that it would increase tariff from 25 percent to 30 percent on 250 billion USD worth of goods and products from China with effect from October 1. In addition, US President Donald J. Trump have announced that it would further raise tariff from 10 percent to 15 percent on another 300 billion USD worth of Chinese imports from September 1.

The increase in tariff on Chinese imports was in response to the recent increased of tax on American imports into China, said the US President. Donald J. Trump have further added that the action to increase the tariff on Chinese imports were taken to achieve balanced and fair trade vis-a vis with China.