05/29/2018

Trump Announces U.S. Moving Ahead With China Tariffs

The move is expected to reignite trade tensions with China

The Trump administration on Tuesday moved forward with restrictions on Chinese investment in the US and tariffs on $50 billion worth of Chinese goods despite talks that seemed to alleviate trade tensions between the two countries.

The White House announced Tuesday that the crackdown on Chinese trade would take effect in June. It said the final list of goods subject to a new 25% tariff would be released June 15, with more details on investment restrictions coming by the end of the month.

The moves come after the Chinese government and Trump administration officials agreed to the outline of a trade truce earlier this month. It is unclear how Tuesday's announcement will affect the broader talks, but it seems likely to reignite the burgeoning tensions between the two countries.

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