Trump Claims to Impose Tariffs on Chinese Products from September

US President Trump said through social media on the afternoon of the 1st that the United States will impose a 10% tariff on the $300 billion imported from China from September 1 this year. However, Trump said that he will continue a constructive dialogue with China on a comprehensive trade agreement, and the future of China and the United States will be bright.

US President Trump announced that it will impose a 10% tariff on China’s $300 billion in US exports on September 1 and the Fed’s interest rate cuts are lower than expected. International oil prices maintained their downward trend after the previous trading day in the morning. In the afternoon, the price of oil was plunged because of Trump’s announcement of tariffs.

Trump still said that he is looking forward to continuing dialogue with China on the comprehensive trade agreement. China and the US ended their two-day trade talks in Shanghai on Wednesday. Neither side announced any breakthrough. The Chinese side said the talks were constructive and said that the next round of talks will be held in the United States in September.

After the Federal Reserve cut interest rates, last night US stocks were reliable until the early hours of the morning, and the Dow once rose more than 300 points. However, the good times did not last long, the US stocks quickly dive in the afternoon, and the Dow once fell more than 300 points. At the close of the day, the three major US stock indexes closed down. The Dow fell nearly 300 points, down 1.05%, the Nasdaq fell 0.79%, and the S&P 500 index fell 0.90%.

Previously, Trump included tungsten and molybdenum products in the tariffs imposed in July.

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