U.S.-China Auto Tariffs ‘Stupid’ and Not Balanced, Trump Says
- President on Twitter lashes out at ‘years’ of bad deals
- Trump statement comes amid growing trade tensions with China
Photographer: Qilai Shen/Bloomberg
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President Donald Trump lashed out at tariffs placed on American cars sold in China, saying the trade structure disproportionately hurts the U.S.
In a Twitter posting Monday morning, Trump said the current system levies a 2.5 percent tariff on every Chinese car imported to the U.S., while placing a 25 percent duty on cars going the other way. He assailed what he said has been an historic imbalance.