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In a sign of how far down the wrong road he has gone, President Donald Trump threatened new tariffs on Chinese imports last week. That move spurred China to halt all purchases of US farm products, and to allow the yuan to fall below a key benchmark value, making its exports more affordable in the United States.
President Trump's decision to levy a 10% tariff on another $300 billion of imports from China will do additional harm to US consumers, producers and workers. This new bundle of taxes falls heavily on final goods, such as clothing, shoes, household goods and baby products. If the tariffs start on September 1st, as suggested by the president's tweet, shoppers will see the impact immediately, as they begin their back-to-school shopping.
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