May 6, 2019 — U.S. President Donald Trump on Sunday, 5 May, escalated the trade war between the United States and China when he announced his intention to raise a 10 percent tariff on USD 200 billion (EUR 178.6 billion) of goods to 25 percent on Friday 10 May.
That hike will affect numerous types of seafood products already under the 10 percent tariff.
“The Tariffs paid to the USA have had little impact on product cost, mostly borne by China,” Trump tweeted Sunday afternoon. “The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!”
In addition, another USD 325 billion (EUR 290.3 billion) of goods that have previously escaped tariffs will also be hit by the 25 percent fee. That would cover the remaining products China, the largest importer to the U.S., ships to America.
The move from 10 to 25 percent was originally supposed to take place in January, but U.S. officials announced a postponement of the move in December as the countries with the world’s largest economies worked to resolve their trade disputes.
However, as it appeared both sides were close to reaching a deal in March, Trump announced the tariffs would remain “for a substantial period of time.”