Byline: Sarah Feldman
Yesterday President Trump announced an additional 10 percent tariff on $300 billion in Chinese goods, which will be put in place on September 1st. Over the past three months, the world's two largest economies were pursuing trade talks to come to an agreement over the trade dispute.
The last round of tariffs was put in place at the beginning of June when China announced 25 percent tariffs on U.S. goods worth $60 billion. The move comes after President Trump placed 25 percent levies on $200 billion of Chinese goods late last week.
The back-and-forth started in January of last year when the U.S. rolled out safeguard tariffs on washing machines and solar cell imports, signaling China out in the official statement the U.S. released. Less than a month later, President Trump signed tariffs on imported steel and aluminum from all nations. While that was a move directed at all...