President Trump's decision to escalate tariffs on $200 billion of Chinese goods on Friday is angering American businesses that say they were taken by surprise
Washington President Donald Trump's decision to escalate tariffs on $200 billion of Chinese goods on Friday is angering American businesses that say they were taken by surprise.
Importers received just five days' notice about the sudden rise in the tariff rate to 25% from 10%. Phil Page, the CEO of Missouri-based Cap America, estimates that his company has more than $1 million worth of baseball hats already ordered that will now be hit with the higher tariff. "It's very difficult to understand what the President is going to do by a business perspective. To spring it on us all at once like this is a very poor judgment on his part," Page said.
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