US President Donald Trump is at it again.
Trump has threatened to raise the stakes in the simmering US-China trade war.
The president tweeted that tariffs of 10% on certain goods would rise to 25% on Friday, and $325 billion of untaxed goods could face 25% duties 'shortly'.
Speaking to Melanie Rice, US foreign policy expert Brooks Spector says no one was expecting the change of heart from Trump.
Up to yesterday evening, everybody thought an agreement was in reach.— Brooks Spector, US foreign policy expert
Suddenly it was announced that there might be new tariffs.— Brooks Spector, US foreign policy expert
For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars....— Donald J. Trump (@realDonaldTrump) May 5, 2019
The United States has been losing, for many years, 600 to 800 Billion Dollars a year on Trade. With China we lose 500 Billion Dollars. Sorry, we’re not going to be doing that anymore!— Donald J. Trump (@realDonaldTrump) May 6, 2019
Listen to the full interview below...
This article first appeared on 702 : Donald Trump threatens Beijing with tariff hikes