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Trump accuses China of violating 'fast' trade deal he made to save country's economy
“The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace which is, by far, number one in the World,” he said in a Truth Social post. “We went, in effect, COLD TURKEY with China, and it was devastating for them. Many factories closed and there was, to put it mildly, “civil unrest.”
In April, Trump imposed a 145% tariff on Chinese imports, which resulted in China imposing a 125% tariff on U.S. goods.
The countries agreed in mid-May to lower their tariffs, respectively, to 30% and 10%.
As of Friday, Trump’s most sweeping tariffs are in a period of legal uncertainty. A federal appeals court on Thursday allowed them to temporarily stay in effect, a day after the US Court of International Trade blocked their implementation, saying the method used to enact them is “unlawful,” according to Yahoo Finance.
“Because of this deal, everything quickly stabilized and China got back to business as usual,” also said in his Friday post. “China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY.”