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Trump administration green-lights tariffs hike on China
The Trump administration moved ahead with increased tariffs on $200 billion in Chinese goods Friday after a round of trade talks between the U.S. and China on Thursday failed to produce an agreement. The new tariffs raised the import taxes of those goods from 10 percent to 25 percent. The White House said talks would continue Friday. The world’s two largest economies were nearing a trade deal to open up the Chinese market to American companies, but negotiations stalled when China called for changes to the text that served as a blueprint for a pact, the New York Times reported. U.S. negotiators have also accused China of reneging on its commitments.
The Trump administration moved ahead with increased tariffs on $200 billion in Chinese goods Friday after a round of trade talks between the U.S. and China on Thursday failed to produce an agreement. The new tariffs raised the import taxes of those goods from 10 percent to 25 percent. The White House said talks would continue Friday. The world’s two largest economies were nearing a trade deal to open up the Chinese market to American companies, but negotiations stalled when China called for changes to the text that served as a blueprint for a pact, the New York Times reported. U.S. negotiators have also accused China of reneging on its commitments.
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