President Donald Trump speaks in July at U.S. Steel's Granite City Works plant in Granite City, Illinois. U.S. Steel credits Trump's plan to impose tariffs on imported steel with enabling it to restart idled furnaces.
President Donald Trump speaks in July at U.S. Steel's Granite City Works plant in Granite City, Illinois. U.S. Steel credits Trump's plan to impose tariffs on imported steel with enabling it to restart idled furnaces. - 
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The Trump administration is imposing tariffs on $200 billion more in Chinese goods starting next week, escalating a trade war between the world’s two biggest economies and raising prices on consumer goods ranging from handbags to bicycle tires.

The tariffs will start at 10 percent and rise to 25 percent starting Jan. 1.

President Donald Trump decided to begin taxing the imports — equal to nearly 40 percent of goods China sold the United States last year — after a public comment period. China has said it’s ready to impose retaliatory tariffs on U.S. goods.

The United States has already imposed tariffs on $50 billion in Chinese imports.

Trump initiated the fight to punish Beijing for what he says are China’s predatory tactics to try to supplant U.S. technological supremacy.

 

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