Irked by the stalemate in trade negotiations with Beijing, President Donald Trump announced yesterday that Washington would slap a 10 percent tariff on an additional $300 billion in Chinese imports Sept. 1. Also fueling his frustration is China’s alleged foot-dragging on stopping fentanyl shipments and buying more U.S. agricultural goods as promised. The new levy — coming after the enactment of a 25 percent tax on $250 million in goods — would include products as diverse as smartphones and sneakers.
What’s next? Beijing’s likely to retaliate, further rattling markets that skidded on Thursday’s news, although Trump could withdraw his threat if talks progress.