The Chosen One Raises Tariffs On China Again

CNBC reports:

President Donald Trump will hike tariff rates on most imports from China in response to the latest shots in the trade war between the world’s two largest economies, he said Friday.

The White House will raise existing duties on $250 billion in Chinese products to 30% from 25% on Oct. 1, the president tweeted. The tariffs on another $300 billion in Chinese goods set to take effect Sept. 1 will now be 15% instead of 10%, he added.

The escalation comes as Trump tries to push China to reach a trade agreement and address what he calls Beijing’s unfair trade practices. China announced new tariffs on $75 billion in U.S. goods on Friday morning in retaliation to U.S. duties on $300 billion in Chinese products.