According to the latest information, Trump announced that he will increase the tariff rate on China to 125%, effective immediately. In addition, high tariffs on other countries will be suspended for a period of 90 days and a 10% tariff will be applied instead. Trump said in his full remarks: Based on China’s disrespect for World Markets, I am increasing the Customs Duty imposed by the United States on China to 125% effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the US and other Countries are no longer sustainable or acceptable. In response, based on the fact that over 75 Countries have called on US Representatives, including the Departments of Commerce, Treasury and USTR, to negotiate a solution to the issues discussed regarding Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non-Monetary Tariffs, and because these Countries have not retaliated against the US in any way, shape or form, upon my strong recommendation, I have imposed a 90-day PAUSE and a significantly reduced Reciprocal Customs Tariff of 10% effective immediately during that period. Thank you for your attention to this matter! Bitcoin rose after the announcement: *This is not investment advice. Continue Reading: BREAKING NEWS: Donald Trump Makes Critical New Statements in the US-China Trade War! He Raised China's Tax Again, Other Countries' Suspended! Bitcoin Reacted!
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