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US Trade Representative confirms 25% tariff hike for Friday

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Dive Brief:

  • U.S. Trade Representative Robert Lighthizer confirmed 10% tariffs on $200 billion worth of Chinese imports will rise to 25% at 12:01 a.m. Eastern Standard Time on Friday, according to multiple news reports. His remarks follow a Sunday afternoon pair of tweets from President Donald Trump stating the existing tariffs will rise and new ones could be coming. The Office of the U.S. Trade Representative (USTR) has yet to issue a formal statement announcing the increase.

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