President Donald Trump said he might raise U.S. tariffs on Chinese goods beyond 25% if trade negotiations with Beijing remain stalled. Trump told reporters that the new 10% tariff he announced Thursday for $300 billion in Chinese imports beginning Sept. 1 would be imposed for a short term and could go up or down after that. He didn’t elaborate. Chinese President Xi Jinping isn’t moving fast enough to resolve the trade war with the U.S., Trump told reporters as he departed the White House for a campaign rally in Cincinnati. “Frankly he is not going fast enough,” Trump said. Trump also said he’s “not concerned at all” that stock markets dropped after his announcement of the new tariffs. “I expected that a little bit.” The Dow closed down 285 points, reversing gains after Trump tweeted that he would impose 10% tariffs on an additional $300 billion of Chinese imports on Sept. 1. Trump said that the United States would be “taxing” China until a deal is secured. Trump, who often says the tariffs are a tax paid by China, told reporters the proposed tariffs could be increased in stages and said they could rise above 25%. Trump’s announcement came after… Read full this story
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