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Trump Trade War- Trump threatens USD 500 billion tariffs on China

US President Donald Trump said Friday that he was ready to impose tariffs on all imports from China. Trump told CNBC in an interview “We are down 375 billion but other estimates could say 507. We are down a tremendous amount. I raised 50… I’m ready to go to 500. I’m not doing this for politics, I’m doing this to do the right thing for our country. We have been ripped off by China for a long time.”

Donald Trump said that China, EU manipulating currencies, keeping interest rates low while the US rate rises. Trump said in a Twitter message “China, the European Union and others have been manipulating their currencies and interest rates lower, while the US is raising rates while the dollars gets stronger and stronger with each passing day — taking away our big competitive edge. As usual, not a level playing field.”

In May, the White House issued a statement saying that the United States will impose a 25-percent tariff on USD 50 billion of goods imported from China, which contain industrially significant technology. In response, Beijing vowed to retaliate against US exports to China with a matching value.
Source : SPUTNIK
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