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Trump hits back at China in tariffs war

AFP  |  Washington 

President Donald Trump hit back at China on Friday in their mounting trade war, raising existing and planned tariffs in retaliation for Beijing's announcement earlier in the day of new duties on American goods.

Trump slammed the "unfair Trading Relationship," and said "China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!)."

The promised response -- which came in a signature Trump tweetstorm -- said existing 25 per cent tariffs on USD 250 billion in Chinese goods will increase to 30 per cent starting October 1.

And tariffs on USD 300 billion in products, due to take effect September 1 at 10 per cent, will now be set at 15 per cent, he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, August 24 2019. 03:05 IST