President Trump Announces Additional Tariffs On Goods From China
President Trump is announcing the U.S. will put additional tariffs on China amid ongoing trade talks.
President Trump made his announcement as he headed off for a campaign rally in Ohio Thursday following two nights of debates from the 2020 Democratic candidates.
The President tweeted in part "...the U.S. will start, on September 1st, putting a small additional tariff of 10-percent on the remaining 300 billion dollars of goods and products coming from China into our country..."
"And don't let them tell you. The fact is, China devalues their currencies. They pour money into their system. They pour it in. And because they do that you're not paying for those tariffs, China's paying for those tariffs." said President Trump.
This comes after a new round of trade talks failed to produce a deal with China earlier this week.
President Trump also said that China's president has not followed through with promises he had made to buy more U.S. agricultural products and stop the flow of fentanyl into the U-S from China.
The President says that the tariffs will damage China, not the U.S.
It's unclear when American consumers are likely to feel the impact of the additional tariffs, but higher prices could show up in stores this fall.