THE BIG ONE: Trump is set to slam China with tariffs on $200 billion worth of goods, taking the trade war to the next level

trump xi us china boxing 2x1Cameron Spencer/Getty; Win McNamee/Getty; Shayanne Gal/Business Insider

 

President Donald Trump is expected to hit China with a tariff on another $200 billion worth of Chinese goods. The move will be a major escalation of the US-China trade war. China is expected to respond with more tariffs. Economists expect that the tariff will increase the cost of goods for US consumers and possibly slow the broader US economy.

President Donald Trump is expected to order the US Trade Representative to impose a tariff on $200 billion worth of Chinese goods, catapulting the US-China trade war to the next level.

During a White House meeting on Monday, Trump said an announcement on the tariffs would come after the stock market close. According to reports, the tariffs will apply a 10% duty to a slew of goods, ranging from food to furniture.See the rest of the story at Business Insider

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