President Trump said U.S. companies were "Hereby ordered" to start looking for alternatives to doing business in China after Beijing said it would impose tariffs on $75 billion worth of additional U.S. products.
"Our Country has lost, stupidly, Trillions of Dollars with China over many years," Mr. Trump wrote in a series of tweets.
The White House didn't immediately respond to questions about the president's demand that shipping companies "SEARCH FOR & REFUSE" deliveries of fentanyl or offer further details on his demand that U.S. companies find alternatives to China.
China imported only $120 billion in U.S. goods last year, but the list of U.S. products on which it has imposed or announced tariffs now totals $185 billion.
Soon after President Trump announced his plans for fresh tariffs set for Sept. 1, Beijing responded by officially announcing the freezing of purchases of U.S. agricultural products and letting its currency drop to its lowest level in a decade.
With concerns mounting over the impact the escalating trade fight would have on businesses and consumers ahead of the holiday shopping season, the Trump administration scaled back some tariffs on Chinese goods last week.
"Nobody wins a trade war, and the continued tit-for-tat escalation between the U.S. and China is putting significant strain on the U.S. economy, raising costs, undermining investment, and roiling markets," said Myron Brilliant, head of international affairs at the U.S. Chamber of Commerce.
https://www.wsj.com/articles/china-to-impose-tariffs-on-more-u-s-products-11566562931?mod=hp_lead_pos1
"Our Country has lost, stupidly, Trillions of Dollars with China over many years," Mr. Trump wrote in a series of tweets.
The White House didn't immediately respond to questions about the president's demand that shipping companies "SEARCH FOR & REFUSE" deliveries of fentanyl or offer further details on his demand that U.S. companies find alternatives to China.
China imported only $120 billion in U.S. goods last year, but the list of U.S. products on which it has imposed or announced tariffs now totals $185 billion.
Soon after President Trump announced his plans for fresh tariffs set for Sept. 1, Beijing responded by officially announcing the freezing of purchases of U.S. agricultural products and letting its currency drop to its lowest level in a decade.
With concerns mounting over the impact the escalating trade fight would have on businesses and consumers ahead of the holiday shopping season, the Trump administration scaled back some tariffs on Chinese goods last week.
"Nobody wins a trade war, and the continued tit-for-tat escalation between the U.S. and China is putting significant strain on the U.S. economy, raising costs, undermining investment, and roiling markets," said Myron Brilliant, head of international affairs at the U.S. Chamber of Commerce.
https://www.wsj.com/articles/china-to-impose-tariffs-on-more-u-s-products-11566562931?mod=hp_lead_pos1
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