US President Trump may raise tariffs to 25% on May 10
6 May 2019 16:35 reported by Claude Tseng
Last year, the president of the US, Donald Trump, determined the imported steel products have threaten the domestic steel industry, so he decided to impose a 25% tariff on steel imports, under Section 232 of the Trade Expansion Act.
However, the China-US trade negotiation didn't have a stalemate. The US President Trump tweeted a serious warning to China on May 5th. He said that due to the slow progress of the US-China agreement, China is trying to renegotiate.
He will decide to raise from the original 10% tariff to 25% for goods exported to the US. The remaining untaxed Chinese imports might have a tariff rate up to 25% soon on May 10th.
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