In a later post on Friday, Trump wrote that he'll impose a 100 percent tariff on China starting November 1 or sooner, "depending on any further actions or changes taken by China." "It is impossible to believe that China would have taken such an action, but they have, and the rest is History," the president added.
Earlier on Friday, Trump suggested he was considering a “massive increase” in import taxes on Chinese products.“One of the policies that we are calculating at this moment is a massive increase of Tariffs on Chinese products coming into the United States of America,” Trump wrote. “There are many other countermeasures that are, likewise, under serious consideration.”
If Trump proceeds with the tariff, it would push rates close to levels that were seen in April, which lead to fears of a steep recession and financial market chaos.
