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US President Donald Trump believes that imposing duties on Chinese imports is more profitable than concluding a trade agreement with Beijing, CBS reported.
The US increased tariffs on $200 billion of Chinese goods to 25% Friday as President Trump ratcheted up pressure on Beijing and threatened to impose additional levies on virtually everything China exports to the U.S.
....The process has begun to place additional Tariffs at 25% on the remaining 325 Billion Dollars. The U.S. only sells China approximately 100 Billion Dollars of goods & products, a very big imbalance. With the over 100 Billion Dollars in Tariffs that we take in, we will buy.....
— Donald J. Trump (@realDonaldTrump) May 10, 2019
“Talks with China continue in a very congenial manner - there is absolutely no need to rush - as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S…,” he added.
As reported earlier, the United States on May 10 increased duties on imports of Chinese goods to 25% worth more than $ 200 billion. China said it would take retaliatory measures. All this is happening against the background of the continuation of trade talks between Washington and Beijing, the next round of which will be held today in the US capital.
