Following China's announcement on 23 August 2019 that it will be imposing additional tariffs of 5% to 10% on USD 75 billion worth of U.S. goods from 1 September 2019, U.S. President Trump announced that tariffs will be raised from 25% to 30% on USD 250 billion worth of Chinese goods from 1 October 2019. Further, President Trump announced that the additional 10% tariffs on Chinese goods that will be implemented 1 September and 15 December 2019 will be increased to 15% ({News-2019-08-22/A/7-pre…