Trump delays tariffs on China but consumers still face 30% import tax
President Donald Trump has postponed his high tariffs on Chinese imports for the next three months, maintaining a 30% tax on most goods in hopes of reaching a trade deal.
President Donald Trump has postponed his high tariffs on Chinese imports for the next three months, maintaining a 30% tax on most goods in hopes of reaching a trade deal.
President Donald Trump has postponed his high tariffs on Chinese imports for the next three months, maintaining a 30% tax on most goods in hopes of reaching a trade deal.
for another three months, maintaining a 30% tax on most goods in hopes of reaching a trade deal.
He signed an Monday for the tariff extension, framing the delay as a gesture of goodwill to allow more time for U.S.-China trade negotiations.
Trump says his goals for the tariffs include addressing a trade imbalance, bringing manufacturing back to the U.S., and punishing China for the flow of illicit drugs.
"We've been dealing very nicely with China, as you probably have heard. They have tremendous tariffs that they're paying to the United States of America," Trump told reporters Monday. "They've been dealing quite nicely. The relationship is very good with President Xi and myself."
A new shows that American consumers face an overall average tariff of 18.6%, the highest in nearly a century, though Trump claims that countries like China are bearing the cost of those tariffs. The Yale report was released before the president's wide-ranging, higher tariffs on most trading partners took effect last Thursday.
Watch the latest on the president's tariffs:
