San José, CA – On Thursday, July 31, President Trump tweeted that he would be imposing new tariffs, or taxes, on the $300 billion of Chinese goods not covered by his 25% tariffs. U.S. stocks took an immediate dive, giving up all of their 300-point gain to drop 280 points for the day. They continued to fall on Friday, leading to the worst week for U.S. stocks all year.
San José, CA – On Sept. 17, President Trump announced that tariffs of 10% will be slapped on $200 billion of Chinese goods starting Sept. 24. These tariffs will rise to 25% at the beginning of 2019. Trump also said that he would put tariffs on another $267 billion dollars of imports from China if China responds to his tariffs. Along with the tariffs on $50 billion of Chinese imports already in place, this would mean steep tariffs on virtually all of the $500 billion in goods that the United States buys from China.