Keeps 125% tariff in place with China after they retaliated with an increase.
On Wednesday, President Donald Trump dropped the tariffs on the majority of U.S. trading partners to 10 percent for 90 days. This time frame allows for the negotiation of new trading agreements with at least 70 nations that have indicated the willingness to make new deals.
President Trump stated, “Based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!“
Addressing the retaliatory increase of tariffs on the U.S. by China, the president stated, “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.“
As the Lord Leads, Pray with Us…
- For President Trump to be led by the Lord as he and his administration negotiate trade deals with other nations.
- For wisdom for the president, U.S. trade representative, and secretaries of commerce and the treasury as they prepare to make new trade agreements.
Sources: CNBC, Daily Wire, PJ Media
