Trump slams China with a 54% tariff rate

White House press secretary Karoline Leavitt confirms that the 34 percent tariff on China is ON TOP of the previous 20 percent. So that means the rate on China will be *54* percent when these tariffs take effect.

This will hugely impact consumers in the US. Imagine a 50% price hike for washing machines and what have you.

And, you think US consumers have been shafted, how about business? Trump dumped a 46% tariff on Vietnam and 49% on Cambodia – many companies moved all their production to these countries to get out of China.

This article was written by Eamonn Sheridan at www.forexlive.com.