Every word that comes out of US President Donald Trump's mouth shakes the markets and new statements are not delayed. Trump made a new announcement that will shock the world. The US President stated that they will increase the tax rate applied to China, saying, 'As of November 1, a customs duty of 155 percent will be applied to China.'
Trade wars between the US and China continue. As tariff rates affect the whole world, a controversial new statement came from Trump.
When asked about tariffs on China during a meeting with Indian representatives at the White House, Trump stated they would impose a tariff of 155 percent. Trump, who made the statement, said, 'As of November 1, a tariff of approximately 155 percent will be applied to China. I don't think this is sustainable for them.'
Trump, who also added that China has been very tough on the US, said, 'We had presidents who were not smart about business. Some were good politicians, some were not even good politicians. But they allowed China and all other countries to take advantage of us.'