Trump Hikes Tariffs, Urges US Cos. To Leave China

Law360 (August 23, 2019, 2:26 PM EDT) -- President Donald Trump responded to Chinese retaliatory tariffs on Friday with a vague edict for U.S. companies to cease business in China while also increasing current and looming duties on Chinese goods by 5 percentage points.

President Donald Trump on Friday tweeted that "American companies are hereby ordered to immediately start looking for an alternative to China." (AP) Trump said that the 25% tariff currently covering $250 billion worth of goods will be raised to 30% effective Oct. 1 and that the tariffs set to take effect in two stages on Sept. 1 and Dec. 15 — initially set at 10% — will...

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