President Donald Trump announced an additional round of tariffs on goods from China after the stock market’s closing bell on Monday, and then took another swing at Beijing on Tuesday on in a pair of morning tweets.
“China has openly stated that they are actively trying to impact and change our election by attacking our farmers, ranchers and industrial workers because of their loyalty to me. What China does not understand is that these people are great patriots and fully understand that China has been taking advantage of the United States on Trade for many years. They also know that I am the one that knows how to stop it. There will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!”
China has openly stated that they are actively trying to impact and change our election by attacking our farmers, ranchers and industrial workers because of their loyalty to me. What China does not understand is that these people are great patriots and fully understand that…..
— Donald J. Trump (@realDonaldTrump) September 18, 2018
…..China has been taking advantage of the United States on Trade for many years. They also know that I am the one that knows how to stop it. There will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!
— Donald J. Trump (@realDonaldTrump) September 18, 2018
The next round of tariffs on $200 billion in Chinese goods will go into effect on Monday, Sept. 25, starting at 10 percent before jumping to 25 percent at the start of next year if the two sides can’t reach an agreement.
The Trump administration has already levied 25 percent tariffs on $50 billion in imports from China. Beijing has retaliated in kind, slamming American soybeans and other products with 25 percent tariffs.
The country is targeting soybeans and others in the U.S. farm belt in an attempt to harm the president’s supporters.
Trump said Monday the administration is still open to making a deal to end the trade war before consumers start to feel the brunt of higher costs.
“China has had many opportunities to fully address our concerns,” Trump said in a statement. “I urge China’s leaders to take swift action to end their country’s unfair trade practices.”
Trump threatened to add additional tariffs on $267 billion in Chinese goods, raising the total to $517 billion — covering nearly everything that it sells to the U.S.
China called the president’s bluff with its own round of duties targeting $60 billion in U.S. products that go into effect on Sept. 24. The Finance Ministry levied tariffs of 10 percent and 5 percent on 5,207 types of U.S. products including coffee, honey and industrial chemicals.
The Associated Press contributed to this report.