Trump Ups Trade War With New Tariffs, China Responds Within SECONDS

President Trump is determined to see the United States win the decades-long trade war with China and recently announced he would be increasing tariffs against the country.

On Monday, his administration announced an additional $200 billion worth of Chinese goods which will go into effect next week. These tariffs will be increased next year from 10 percent to 25 percent.

As the Washington Examiner reports, the U.S. has already imposed 25 percent tariffs on $50 billion worth of Chinese machinery and electronics exports.

Trump followed up the new wave of tariffs by taunting the Chinese government over social media and said there would be “great and fast economic retaliation.”

“China has openly stated that they are actively trying to impact and change our election by attacking our farmers, ranchers and industrial workers because of their loyalty to me,” the president tweeted. “What China does not understand is that these people are great patriots and fully understand that China has been taking advantage of the United States on Trade for many years. They also know that I am the one that knows how to stop it. There will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!”

As the Washington Examiner also reports, the Chinese government quickly responded to the tweet by announcing a new wave of tariffs of their own.

In their announcement, China said they would be imposing new tariffs on $60 billion of U.S. goods.

From the report:

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China’s Finance Ministry said that it is moving forward with its plans to increase in tariffs of 10 percent and 5 percent on over 5,000 U.S. goods.

The president also threatened further tariffs, on $267 billion of goods, if China retaliated, as they did immediately Tuesday. Trump has said he is willing to slap tariffs on all of the goods China imports to the U.S., totaling $506 billion.

“After a thorough study, the USTR concluded that China is engaged in numerous unfair policies and practices relating to United States technology and intellectual property – such as forcing United States companies to transfer technology to Chinese counterparts,” the president said in a statement Monday evening. “These practices plainly constitute a grave threat to the long-term health and prosperity of the United States economy.”