Trump Hits Back At China With 30% Tariffs On $250 Billion Of Chinese Goods

President Donald Trump retaliated against China’s Friday announcement that it is increasing tariffs on U.S. goods by increasing tariffs to as much as 30% on $250 billion of Chinese goods.

The tariffs will be implemented on Oct. 1 on top of an additional 15% tariff on $300 billion of Chinese goods set to go into effect on Sept. 1 that was originally set at 10%.

“For many years China (and many other countries) has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more. Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight,” Trump said in a series of Twitter posts.

“Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer,” he continued.

“As President, I can no longer allow this to happen! In the spirit of achieving Fair Trade, we must Balance this very unfair Trading Relationship. China should not have put new Tariffs on [$]75 BILLION of United States product (politically motivated!). Starting on October 1st, the [$]250 BILLION of goods and products from China, currently being taxed at 25%, will be taxed at 30%,” Trump said.