The stock market has already seen some wild fluctuations this week in anticipation of the latest volley in a trade war ramping up between the U.S. and China. Now it seems the President is making good on his promise to further increase tariffs on goods from the country. Reuters is reporting that the U.S. is set to increase import tariffs on $200 billion worth of Chinese goods from 10 to 25 percent. The change is set to go into effect on Friday, May 10.
….Guess what, that’s not going to happen! China has just informed us that they (Vice-Premier) are now coming to the U.S. to make a deal. We’ll see, but I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers…great for U.S., not good for China!
— Donald J. Trump (@realDonaldTrump) May 8, 2019
Trump addressed the topic of tariffs (per usual) on Twitter this morning , without directly confirming new increase. “China has just informed us that they (Vice-Premier) are now coming to the U.S. to make a deal,” he wrote. “We’ll see, but I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers…great for U.S., not good for China!”
Developing…
