Trump orders raising tariffs on remaining imports from China

Bs_logoImage
Press Trust of India Washington/Beijing
Last Updated : May 11 2019 | 3:21 PM IST

US President Donald Trump ordered a tariff hike on almost all imports from China after the latest round of talks to end the trade war between the world's two largest economies ended on Friday without a deal even as Beijing said the negotiations have not broken down and it is cautiously optimistic to reach an agreement.

Expected to further escalate the trade war between the US and China, Trump's latest move came less than a day after he ramped up punitive duties on USD 200 billion worth of Chinese imports, raising them to 25 percent from 10 percent, and Beijing vowed to retaliate.

The new increase applies to an even greater value of goods put at about USD 300 billion.

US Trade Representative Robert Lighthizer said in a statement that Trump had "ordered us to begin the process of raising tariffs on essentially all remaining imports from China."

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories

  • Over 30 subscriber-only stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 11 2019 | 3:21 PM IST