Amid slow-moving talks, President Trump says the U.S. will apply a tariff of 10 percent on about $300 billion worth of products from China on Sept. 1. (Replaces deleted tweet to add dropped “billion.“)
Chinese Vice Premier Liu He, center, poses with U.S. Trade Representative Robert Lighthizer, right, and Treasury Secretary Steven Mnuchin, for photos before holding talks at the Xijiao Conference Center in Shanghai Wednesday, July 31, 2019.
WASHINGTON — President Donald Trump announced Thursday the U.S. will apply a new tariff of 10% on about $300 billion worth of products from China beginning Sept. 1, escalating the two countries’ festering trade dispute. Stocks immediately tumbled on the news. The Dow Jones Industrial Average, which had been up nearly 300 points earlier, was down nearly 200 points soon after Trump’s tweets.
Trump’s threats come after a U.S. delegation returned to Washington from what the White House described as “constructive” trade talks. The negotiations were expected to resume in Washington in September, though exact dates were not announced.
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