Trump Imposes Additional 5% Tax on Chinese Goods

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The United States levied an additional 5 percent on existing and planned duties on Chinese products on August 23.

The US President Donald Trump addressed in a string of tweets, “Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%.”

He further added, “Additionally, the remaining 300 BILLION DOLLARS of goods and products from China, that was being taxed from September 1st at 10%, will now be taxed at 15%.”

This development has come in the wake of US companies in China are being urged to leave the country after new Chinese tariffs were imposed in the turbid Chinese markets.

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