VOA State Department Correspondent Nike Ching contributed to this report.WHITE HOUSE — The trade war between Washington and Beijing further escalated Friday.
The United States will add to tariffs on Chinese products, President Donald Trump announced.
Terming China’s announcement on Friday of additional tariffs on $75 billion worth of American products “politically motivated,” Trump said he was retaliating by increasing the 25% tax on $250 billion in goods from China to 30%, effective Oct. 1.
Additionally, Trump announced on Twitter, the tariffs on the remaining $300 billion of Chinese goods to be imposed on Sept. 1 will rise from the 10% level to 15%. ….Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer. As President, I can no longer allow this to happen! In the spirit of achieving Fair Trade, we must Balance this very….— Donald J. Trump (@realDonaldTrump) Federal Reserve Chairman Jerome Powell walks to the podium during a news conference in Washington, July 31, 2019.Powell indicated that the Federal Reserve, which cut interest rates last month for the first time in a decade, was willing to make another reduction to keep the U.S. economy growing, but he did not specify the amount or the timing of such action. That angered the president, who tweeted: “As usual, the Fed did NOTHING! It is incredible that they can ‘speak’ without knowing or asking what I am doing, which will be announced shortly.” The president then added: “My only question is, who is our bigger enemy, Jay Powell or (Chinese Communist Party) Chairman Xi?” Xi is also China’s president. As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great…— Donald J. Trump (@realDonaldTrump) FILE – A man wearing Nike shoes uses his smartphone near an advertisement for U.S. lingerie maker Victoria’s Secret, in Beijing, China, May 21, 2019.”While we share the president’s frustration, we believe that continued, constructive engagement is the right way forward,” said Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber of Commerce. “Time is of the essence. We do not want to see a further deterioration of U.S.-China relations.” White House economic adviser Larry Kudlow on Thursday said discussions this week between deputy-level negotiators were constructive.In response to a question from VOA, Kudlow said there were still plans for the Chinese trade negotiating team “to come over here in September.”Analysts are expressing fears that if there is no truce soon in the trade war with China, that could lead to a recession in the United States.
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