WASHINGTON (UrduPoint News / Sputnik - 24th August, 2019) The United States will increase tariffs by another five percent on $550 billion worth of Chinese goods that are already being taxed in response to Beijing's new retaliatory measures, US President Donald Trump said in a statement.

"Starting on October 1st, the 250 billion Dollars of goods and products from China, currently being taxed at 25 percent will be taxed at 30 percent," Trump said via Twitter on Friday.

The US president also said the tariff on the remaining $300 billion worth of Chinese goods and services that will go into effect on September 1 will now increase from 10 percent to 15 percent.

Earlier on Friday, the Chinese State Council said tariffs ranging from 5 to 10 percent would be applied to $75 billion worth of US goods, with some taking effect on September 1 and others on December 15.

The latter batch will also include a 25 percent duty on American cars.

The US Trade Representative's office in a statement said it will begin implementing the tariffs effective October 1 after a notice and comment period. The remainder will go into effect on the already scheduled dates

For the 10% tariffs on approximately $300 billion worth of Chinese imports that the President announced earlier this month, the tariffs will now be 15%, effective on the already scheduled dates for tariff increases on these imports.

China's newly announced tariffs on Friday are in response to Trump's announcement earlier this month of the initial 10 percent tariffs on $300 billion in Chinese goods, although some items have since been removed from the list and others delayed until after the holiday shopping season. </s> President Donald Trump slapped back at Beijing, tweeting that new U.S. tariffs, slated to go into effect Sept. 1, would be at a rate of 15%, up from the planned 10%.

The news followed Beijing’s announcement earlier Friday that it will place tariffs on $75 billion of U.S. imports, and it amounts to yet another escalation in the U.S. trade war with China. Just hours earlier, the president said U.S. companies were “hereby ordered” to find alternatives to making and procuring goods in China.

The Dow Jones Industrial Average closed down more than 620 points, or about 2.4%, on Friday. The S&P 500 and the Nasdaq Composite fell sharply as well.

It’s getting hard to keep track of the tariff salvos crossing the Pacific.

The U.S. has tariffs on about $250 billion of Chinese goods, in place since 2018. The tariff rate was 10% and was slated to go to 25% this past Jan. 1, a decision that was delayed by Trump as a sign of good faith in negotiations. Rates went up in May, however, because progress was slow.

The Office of the United States Trade Representative said Friday that tariff rate will now go to 30%, effective Oct. 1.

The president announced 10% tariffs on an additional $300 billon more Chinese imports via Twitter this month, but the U.S. later delayed putting those levies in place until September. Tariffs on some products, such as Apple (ticker: AAPL) iPhones, were delayed until the holiday shopping season, minimizing the impact on U.S. consumers.

The tariff rate on items not listed for holiday delays, most of the additional $300 billion in goods, will be at 15% on Sept. 1. That means that the vast majority of imports from China will be taxed at rates between 15% and 30%.

The trade war is heating up and all signs point to more volatility on Monday. </s> WASHINGTON (UrduPoint News / Sputnik - 24th August, 2019) The United States will increase on October 1 the imposed tariffs on $250 billion worth of Chinese goods from 25 percent to 30 percent as a response to China's new retaliatory tariffs, US President Donald Trump said in a statement.

"Starting on October 1st, the 250 billion Dollars of goods and products from China, currently being taxed at 25 percent will be taxed at 30 percent," Trump said via Twitter on Friday.

The US president also said the tariff on the remaining $300 billion worth of Chinese goods and services that will go into effect on September 1 will now increase from 10 percent to 15 percent. </s> WASHINGTON (UrduPoint News / Sputnik - 13th August, 2019) The United States will postpone the decision to implement an additional 10 percent tariffs on some Chinese imports until December 15, the US Trade Representative announced in a statement on Tuesday.

"[A]s part of USTR's public comment and hearing process, it was determined that the tariff should be delayed to December 15 for certain articles," the statement said. "Products in this group include, for example, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing."

The US Trade Representative said that the 10 percent tariff on $300 billion worth of Chinese imports previously announced by by President Donald Trump will go into effect on September 1 as scheduled. </s> WASHINGTON, May 30 (Reuters) - President Donald Trump said on Thursday the United States will impose a 5% tariff on all goods coming from Mexico starting on June 10 until illegal immigration across the southern border is stopped.

“The Tariff will gradually increase until the Illegal Immigration problem is remedied, at which time the Tariffs will be removed,” Trump said on Twitter.

On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied,.. — Donald J. Trump (@realDonaldTrump) May 30, 2019

....at which time the Tariffs will be removed. Details from the White House to follow. — Donald J. Trump (@realDonaldTrump) May 30, 2019

In a statement issued by the White House, Trump said the tariff would increase to 10% on July 1, 15% on Aug. 1, 20% on Sept. 1 and to 25% on Oct. 1.

“Mexico’s passive cooperation in allowing this mass incursion constitutes an emergency and extraordinary threat to the national security and economy of the United States,” Trump said in the statement.

“Mexico has very strong immigration laws and could easily halt the illegal flow of migrants, including by returning them to their home countries,” he said. </s> WASHINGTON (Reuters) - The U.S. Trade Representative’s office on Friday said it would hold a public comment period before raising tariffs on $250 billion in Chinese imports on Oct. 1 from 25% to 30% after China announced what the U.S. considers “unjustified tariffs.”

It said 10% tariffs on about $300 billion worth of additional Chinese-made consumer goods would be increased to 15%, effective on the already scheduled dates for tariff increases on these imports.

China on Friday said it would impose retaliatory tariffs on $75 billion of U.S. goods, targeting crude oil for the first time and renewing punitive duties on American-made autos. That came after U.S. President Donald Trump unveiled plans to impose the 10% tariffs on products such as cellphones, toys, and clothing on Sept. 1 and Dec. 15. </s> Washington (CNN) President Donald Trump on Friday counterpunched against retaliatory tariffs announced by Beijing earlier in the day, pledging to hike the rates importers must pay on Chinese-made goods even higher.

Trump said the US will raise tariffs from 25% to 30% on $250 billion in goods that are already being taxed starting October 1.

He also threatened to ratchet up promised tariffs on the remaining $300 billion in Chinese imports from 10% to 15%. Those tariffs, which would hit mostly consumer items , are set to begin taking effect September 1, though most goods will be duty-free until December 15 -- a move Trump made to avoid putting a damper on holiday retail sales

The President's announcement came after Beijing unveiled a new round of retaliatory tariffs on about $75 billion worth of US goods . China will place additional tariffs of 5% or 10% on US imports starting on September 1, according to a statement posted by China's Finance Ministry.

"We're having a little spat with China and we'll win it," Trump told reporters Friday night before departing for the annual G7 summit in Biarritz, France. "We put a lot of tariffs on China today, as you know. They put some on us, we put a lot on them."

Read More </s> President Donald Trump on Friday counterpunched against retaliatory tariffs announced by Beijing earlier in the day, pledging to hike the rates importers must pay on Chinese-made goods even higher.

Trump said the US will raise tariffs from 25% to 30% on $250 billion in goods that are already being taxed starting October 1.

He also threatened to ratchet up promised tariffs on the remaining $300 billion in Chinese imports from 10% to 15%. Those tariffs, which would hit mostly consumer items, are set to begin taking effect September 1, though most goods will be duty-free until December 15 — a move Trump made to avoid putting a damper on holiday retail sales.

The President’s announcement came after Beijing unveiled a new round of retaliatory tariffs on about $75 billion worth of US goods. China will place additional tariffs of 5% or 10% on US imports starting on September 1, according to a statement posted by China’s Finance Ministry.

It was the latest escalation in an ongoing trade war that has triggered a worldwide economic slowdown and which, for the moment, shows no sign of quick resolution.

“China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!),” Trump said on Twitter.

The intensifying fight unnerved investors, sending the Dow dropping more than 700 points at its worst, closing down 2.4%, or 623 points.

The US Trade Representative Office, which acts as the country’s top trade negotiator, said it would “begin the process of increasing the tariff rate to 30% effective October 1 following a notice and comment period.”

Earlier Friday, Trump ordered US companies doing business in China to find an “alternative” and had promised to deliver further action after he met with his economic team at the White House.

“We don’t need China and, frankly, would be far better off without them,” Trump tweeted. “Our great companies are ordered to immediately start looking for an alternative to China, including bringing your companies HOME.”

China trade experts said the moves will only deepen the impasse between Washington and Beijing.

“Everyone knew this was coming,” said Craig Allen, president of the US-China Business Council. “There was no doubt this was coming. The response to it is surprising and disappointing. ”

Stocks finished a volatile trading day sharply in the red Friday, after a selloff driven by the new retaliatory tariffs from China and the President’s criticism of Federal Reserve policy.

Trump again attacked Federal Reserve Chairman Jerome Powell over interest rates, which Trump insists are too high even after a rate cut last month.

“My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” the president tweeted referring to Chinese leader Xi Jinping. </s> (CNN) — President Donald Trump on Friday counterpunched against retaliatory tariffs announced by Beijing earlier in the day, pledging to hike the rates importers must pay on Chinese-made goods even higher.

Trump said the US will raise tariffs from 25% to 30% on $250 billion in goods that are already being taxed starting October 1.

He also threatened to ratchet up promised tariffs on the remaining $300 billion in Chinese imports from 10% to 15%. Those tariffs, which would hit mostly consumer items, are set to begin taking effect September 1, though most goods will be duty-free until December 15 — a move Trump made to avoid putting a damper on holiday retail sales.

The President’s announcement came after Beijing unveiled a new round of retaliatory tariffs on about $75 billion worth of US goods. China will place additional tariffs of 5% or 10% on US imports starting on September 1, according to a statement posted by China’s Finance Ministry.

“We’re having a little spat with China and we’ll win it,” Trump told reporters Friday night before departing for the annual G7 summit in Biarritz, France. “We put a lot of tariffs on China today, as you know. They put some on us, we put a lot on them.”

“We’re up to about $550 billion — they’ve been hitting us for many, many years for over $500 billion a year, taking out of our country much more than 500 billion a year,” he added. “So we want that stopped.”

It was the latest escalation in an ongoing trade war that has triggered a worldwide economic slowdown and which, for the moment, shows no sign of quick resolution.

“China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!),” Trump said on Twitter.

The intensifying fight unnerved investors, sending the Dow dropping more than 700 points at its worst, closing down 2.4%, or 623 points.

The US Trade Representative Office, which acts as the country’s top trade negotiator, said it would “begin the process of increasing the tariff rate to 30% effective October 1 following a notice and comment period.”

Earlier Friday, Trump ordered US companies doing business in China to find an “alternative” and had promised to deliver further action after he met with his economic team at the White House.

“We don’t need China and, frankly, would be far better off without them,” Trump tweeted. “Our great companies are ordered to immediately start looking for an alternative to China, including bringing your companies HOME.”

China trade experts said the moves will only deepen the impasse between Washington and Beijing.

“Everyone knew this was coming,” said Craig Allen, president of the US-China Business Council. “There was no doubt this was coming. The response to it is surprising and disappointing. ”

Stocks finished a volatile trading day sharply in the red Friday, after a selloff driven by the new retaliatory tariffs from China and the President’s criticism of Federal Reserve policy.

Trump again attacked Federal Reserve Chairman Jerome Powell over interest rates, which Trump insists are too high even after a rate cut last month.

“My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?” the president tweeted referring to Chinese leader Xi Jinping.

Late Friday night, Trump told reporters he wouldn’t stop Powell if the chairman wanted to resign.
President Trump announces an increase in the tariffs set to take effect on September 1, October 1 and December 15, from 10% and 25% to 15% and 30%, respectively. The Office of the United States Trade Representative says it will "begin the process of increasing the tariff rate to 30% effective October 1 following a notice and comment period".