Trump announces plans to raise tariffs

Ekpedeme Umoh

Ekpedeme Umoh

The president of the United States of America, Donald Trump has announced plans to hike the tariff imposed on $200bn of Chinese goods from 10% to 25% on Friday, a move which would escalate a trade war between China and the US.

Trump announced the move on Twitter, complaining that negotiations between the two countries were proceeding too slowly.

The move will affect more than 5,000 products made by Chinese farms and factories, from fresh and frozen food to chemicals, textiles, metal work, building materials, electronics and consumer goods.

The US president also threatened to impose tariffs on all Chinese trade with America, a move that could further destabilize relations between the two economic powers.

The move prompted sharp falls in stocks in Asia Pacific on Monday with China’s blue chip stock index dropping 4% – its biggest fall for two months – while the Hang Seng fell 2.5%.

A 10% tariff was imposed on these goods last September in order to cut America’s trade deficit with China and force concessions on issues such as intellectual property rights.

It had been scheduled to jump to 25% in January but the president held back while talks between the two sides continued.

Currently, almost half of China’s sales to America are affected by tariffs and Trump is now aiming for the remaining $325bn.

In a statement, Trump warned that, “325 Billion Dollars of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%. The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!”

Such a move could cause further pain and disruption to the Chinese economy, and probably trigger retaliatory action by Beijing.




Our motto is: ‘We stand for the truth, irrespective of who tells it’. Driven by this philosophy, our aim has been to create a platform where every voice, every narrative – provided they are decently expressed –  is allowed expression. Our belief is that by promoting unfettered competition of ideas, the truth will eventually emerge. Obviously, doing this while resisting any temptation to be captured by any special interest or tendency makes survival as an online newspaper more challenging. This is why we will appreciate any support from our readers:

Bank details:

Account Name: The News Chronicle
Bank: UBA
Account No.: 1022603956 (Naira)

Domiciliary Account  – dollar-denominated:
Bank:  UBA
Account Number: 3002835294 ($)

Please email details of your bank transfer to: or send them by WhatsApp to: 07058078841

Professor Jideofor Adibe


Leave a Reply

Your email address will not be published.

Related Posts


What's New?