The United States will impose a 25% tariff on $50 billion of Chinese exports, the president said early Friday. And he warned of more to come if China retaliates, reports CNN Money.
The penalty is designed to punish China for stealing American technology and trade secrets. It will apply to roughly 1,100 exports and will target the Chinese aerospace, robotics, manufacturing and auto industries.
Beijing previously promised to respond to this tariff with retaliatory tariffs of its own on $50 billion of U.S. products such as cars, planes and soybeans.
Trump said Friday that if China retaliates, the United States will authorize another round of tariffs on Chinese goods.
Read the full report here.
