Trump Promises New Tariffs


President Trump announces new round of tariffs on Chinese goods, the latest escalation in a simmering trade war.

(NBC News)  Tariffs are going up again on everything from iPhones to baby cribs imported from China.

Starting September 1st the Trump administration will impose a ten percent tariff on $300 billion worth of goods, on top of the 25 percent already in place.

The new tariffs will effect electronics, appliances, auto parts, clothes, bicycles and baby products.

President Trump told supporters at an Ohio rally Thursday “You’re not paying for those tariffs, rather, China is paying for those tariffs,” but financial experts say the extra cost will be passed on to American shoppers.

Financial markets took a nosedive after the announcement, and China promised “countermeasures.”

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