Economics

Trump Raises Tariffs on China as Frustration Mounts Ahead of G-7

Tariffs on $250 billion in existing tariffs to go to 30%
Follows Chinese retaliation to earlier Trump tariff move

Donald Trump
Photographer: Jim Watson/AFP/Getty Images

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By Shawn Donnan, Jennifer Jacobs, and Miao Han

August 23, 2019 at 10:26 PM UTC

Updated on

August 24, 2019 at 11:41 AM UTC

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President Donald Trump escalated the trade war with China on Friday and moved further away from a deal to resolve frictions, announcing a wave of higher tariffs even as he prepared to set off for a gathering of world leaders.