Donald Trump announces higher tariffs on Chinese goods - page 1

US President Donald Trump has announced countermeasures in response to new Chinese tariffs. Tariffs would be raised by five percentage points, Trump wrote on Twitter. Tariffs of up to now 25 percent on goods imports worth 250 billion dollars should be raised from October to 30 percent. In addition, Trump wants to increase the tariffs on additional goods worth $ 300 billion, which are to apply from 1 September. These should be at 15 percent - instead of ten percent, as previously planned.

The government in Beijing had previously announced new tariffs on US goods. Trump responded with a series of angry tweets: "We do not need China and, frankly, we'd be better off without it," he wrote. The US would only be deprived of China. US companies were "ordered to seek alternatives to China immediately" and produce products back home in the US, Trump said. The government can make it difficult for businesses to choose but not dictate, as suggested by Trump.

The Chinese punitive tariffs were in response to Trump's announcement in September of additional import charges on Chinese products. As a result, almost all Chinese imports into the US will be subject to additional duties in the future.

The trade conflict of the two largest economies is likely to occupy the weekend also the head of the G7 in Biarritz. China is not invited to the summit of leading Western industrialized countries. The trade conflict is dragging the global economy down and affecting all nations, especially export-oriented ones like Germany.