Pres. Trump announces new tariff on $300 billion of Chinese goods

In a tweet Thursday afternoon, Pres. Trump announced plans for a 10% tariff on $300 billion worth of Chinese products set to take effect Sept. 1.
29:08 | 08/01/19

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Transcript for Pres. Trump announces new tariff on $300 billion of Chinese goods
Yeah. They're very welcome to the briefing room on this Thursday on Devin Dwyer were back in Washington after an extraordinary couple of days in Detroit Michigan the second's. Democratic presidential primary debate now behind us all eyes on Houston Texas that's where the candidates will. Gather next here on ABC news and ABC news liable have a full wrap up of the developments there what's happening today is the candidates. Had back on the trail coming up also some breaking news over in Asia and the trump foreign policy we'll head of the State Department. I don't want to I want to start with some breaking news out of the White House just moments ago president trump signaling. I think he's back on a on our war footing with China threatening new tariffs. He just thirty days time on billions of dollars of products that will come into this country. Potentially increasing consumer prices just as we head into the fall back to school season I want to bring in our Meredith McGraw White House reporter. Offer more on this Meredith fabric this downforce what does the president announcing just as his team is meeting with the Chinese this afternoon. DeVon this is a major escalation any trade war with China president trump. Just tweeted this afternoon that he's putting a 10% tariff on 300 billion dollars worth of Chinese goods. Now that means virtually everything that China imports the United States. Will be impacted now by some form of tariffs and this could eventually. Raise prices on consumer goods on everything from your ice falling to the apparel that you Wear. And of course the president has already imposed 25%. Terror front toured fifty billion dollars in imports. The Chinese. Have done that in return any merit at this is sort of caught everybody by surprise this afternoon because the president. Had just met with Chinese president changing bring recently he had seemed to back off. Of this trade war certainly because he's been taking some heat in key parts of the country is the campaign heats up. That's right president from just met with Chinese president G when he was over at the G-20 and Japan and they decided to place. A cease fire on this trade war and the president backstop of his threat. To impose Terrence now of course that cease fire. In Dayton today. I'm and it comes on the heels of a visit by Treasury Secretary in the nation and trade representative light Kaiser to Shanghai where negotiations that really didn't seem to go anywhere. President trump has signaled that he's still once these toxic though I'm but it's unclear how this move might impact those future negotiations and the president's. When he hits finger at China for not purchase seen American agricultural guide. And stopping the sale offense and all. Many also I think that the Chinese IP dragging their feet because they're hoping that. He might not be reelected and 22 when he bet as you sad these Terex. Aren't very popular in many of the states president trump will need to get reelected in twenty planning. Those are tough for a line is he had into the fall campaign also the merits we should do caution everybody. We know this president has deployed these tactics before he issues a threat he backs off that is a negotiating tactic. Has happened many many times including in the terror forward China and the border fight of course what Mexico so we'll see if he's actually take a fact. If they do think you Meredith they would have a significant impact on consumers in this country for more now I want to bring in our business reporter Taylor done. How with our business team up in New York Taylor great to see you so. For the average Joseph at home 10% 300 billion dollars sounds. Like a lot what does that actually mean for folks. Who go and buy Chinese imported products at stores all over the country. So DeVon essentially what this means in bad either a business is going to have to absorb the cost of this or the consumer is and a lot of businesses might not be able to afford to. To absorb this cost so what's gonna happen is. Places like target and Wal-Mart and a lot of these big box retailers they might have to increase their prices could be get a lot of goods from China. They they sure do pretty much everything young bias those stories you mentioned it is is is made in China and the markets they take get. I'm not reacting very well that this news. Yeah I mean I've expected it be market is reacting negatively. I'd just hacked in the Dow is down about 250. Points a little less. And that's a little less than a percentage but. The stock market does not like terrorists because that means that either kids are getting more expensive and I can affect profits so at the market is kind of reacting negatively. Retail stocks I just checking Nike is down Apple's down. The hour seeing a negative reaction. Since that hits people's 401 case as well in addition to those prices but. As we said of Meredith will wait and see if he's actually do take effect of a lot of swings on this story Taylor Don thanks so much for your analysis. On this for their business unit will continue to follow it at Well it is the debate aftermath now and our political team is all over. What went down in Detroit Molly Nagle is here with us in Washington she covers the Biden campaign Joseph Biden had a big night last night journey remote Rick. On our political unit is here is well Beatrice Peterson. Is still high and out there in Detroit where Joseph Biden Connell Harris are doing some clean up today after. What they can be described as a brawl John and they really when attitude had been these sort of gotten tense and personal friend in Miami and it it's most of the time on the stage last night was between the two of them right. And we expected it to be this this pretty sharp contrast being drawn between candidates that were not at center stage. And the two candidates that were senator State's Joseph Biden Connell Harris and we got that and one of the biggest clashes was over this issue of health care the issue voters say. Is top on their minds. A lot to unpack here as one analyst put it that Democrats are suffering from that a planned hiatus when it comes to health care a lot of plans out there what do they mean. Let's take a listen to how they Parse that out last night. I listened to American families who said I want an option that will be under your Medicare system that allows a private plan. So I did his designs. A plan where yes responsive to the needs of American families there will be a public plan under my plants Medicare and a private plan. Under my plants Medicare. You notice is no talk about the fact plant in ten years will cost three trillion dollars. Do you will lose your employer based insurance and in fact you know this is the single most important issue tradition of pol. Going to be very blunt and bigger straightforward. You can't be present child would double talk on this plan. Vice president and you just simply inaccurate in what you're describing the reality is that our plan that will bring health care. Tooth all Americans under Medicare for all system under our plan. We will ensure that everyone has access to health care your plan by contrast. Leaves out almost ten million Americans. Obama care. Is working way to build this should get to immediately is to build on obamacare go back to do take who take back all the things a child took away. Provide a public option. We every single person in America would be able to wider adoption if they didn't like their employer plans or if there on Medicaid an automatic can be in the plan. It would be take place immediately he would move quickly and it would ensure the vast vast vast majority of Americans in the meantime. What happens if anybody tell you how much their plans cost my plans cost 750. Billion dollar that's at a cost not thirty. Trillion dollar rice president. I don't understand why Democrats on this stage are fear mongering about universal health care it makes no sense asked the American people they are sick of what the pharmaceutical companies are doing to them and asked them what they feel about the health insurance companies. They feel is holding back. Their families because they can't get the coverage they need to get a lot of knows they don't got help from health insurance companies why are we not going to give the party that does something bold. Republicans are trying to kill obamacare. Obamacare took care twenty million people right off the bat. A hundred million people a preexisting conditions and a tackle regard as a public option. That in fact would allow anybody to buy and don't have to keep the private insurance they can buy into this plan. So this idea is a bunch of Malarkey. What we're talking about here. And Molly Biden is picking up right where he left off today a few minutes ago at a diner AA in downtown Detroit he talked about. Defending his plan defending Obama care of wrapping himself. In the presidency of Barack Obama today. Yes do you mean you hear a classic Joseph Biden and this is a bunch of local Malarkey. You know she if he's really this really show is just howl. Far left the primary has moved when that I have Biden is defending obamacare which was you know relatively popular with the with Democrats and I'm is arguing for a public option which is something President Obama would apply to do himself. So he's clearly you know he's more modern in this end debate but it's it's a question about and where the party is that the whole when you're talking about this being a little chop. And also trying to set this up as the rest of the field vs Obama he sort of starting to make this out to be if you don't agree with my plan. You're disagreement Obama right you heard him again today say he was pretty surprised at the level of attacks. On Obama clearly still trying to sort of align himself with the former president bill was interesting is about one of the most effective lines of attack. Yesterday was from Cory Booker. When he called opera Vice President Biden for saying look you reference Obama when it's convenient for you and you ignore the record when it's not and I I thought that that line of attack did really Landon. Biden's gonna have to address that and and and. Coupled as Kabul Harris defending her plan as well today after a lot of positions on health care in the lead up to this debate and single and shaky last night in descending the new plan she's before Beatrice Peterson has been tracking her. Connolly Harris just spoke a few minutes ago Beatrice and I've not only is she Abington defend against criticism of her health care plan that she's also. Facing a lot of punches. From down below from people like told C Gabbert she's pushing back on that front today as well. Yet this is a long time coming debt and it started shortly after the first debate during that argument between Biden and Harris but it we're talking about. Dad ever later jumped into that bites and it's mean it's you and said well you know. CD. And a bit about underhanded play the comments about race and busing. I'm she was aimed at harris' remarks were very similar to buy. And it is made alluded to something that was coming up coming up coming up the back and mourn. Hat and then starting the week then however at this stage last night. Wearing Jeffords went out there Harris over some comet this he made early in the earlier this year on The Breakfast Club. Talking about marijuana I believe we have the downed right appear. And second. She put over 15100 people in jail for marijuana violations then laughed about it when she was asked if she ever smoked marijuana. See more. Read out. From death row until the courts forced her to do so. She kept people in prison be on their sentences to use them as cheap labor for the state of California as she fought. Surveillance system in place that impacts for people in the worst kind of way. I did the work of significantly reforming the criminal justice system of the state of forty million people which became a national model for the work that needs to. You done and I am proud of that work. And it is a big moment for Gabbert a lot of people are saying to me personally Latin American that they. To some of the arguments that she had against Harris so we'll see how this plays out Gabbard is trying to make her way to you that there debate stage where he has hit. To worsen and three more polls and a 130000. Unique donor. Devin. All right Beatrice Peterson forcing Detroit after are raucous evening there great to see him Beatrice thanks so much. For your reporting and thanks to Molly Nagle was on the Biden campaign much more ahead from Joseph Biden this week as well thank you guys. I now to president trump who's responding this evening with a rally have its own his first after the democratic debate in Detroit also his first rally. After stirring up controversy North Carolina with the send her back chance will be watching where did those come up again tonight are Byron Pitts. Nightline anchor senior national correspondent is in Cincinnati Ohio today this. State's third largest city key state there one with a long history of racial tensions segregation Byron. I even talking a lot of people going to this for. Alley when you've been hearing. Yes hi good afternoon were outside US bank arena in downtown Cincinnati's west they have concerts like here in downtown since. We're outside or you'll never mind take a look at this line and wraps around the building were near one of the infants. People have been here since this morning. For an event that is our for several hours at 7 PM eastern time here in Cincinnati we talked a number of people about the issues you guys have been discussing. And do what we've heard in generals admitted he was hoping to hear him. They certainly support the president's substance some may disagree with the style. But we've not talked a single person here who believes that his comments were racist at all plan talk to you only hear an answer I won't. Page from supporters. You're gonna go the rally tonight. I am quite common today. I never actually. Here is rain hail pounded. UT Manning Jim seeing her here. And I mine. I don't really excited. Early in the election. And he's. It's bringing them. It's been very. I really wanted to. Any idea when I'm. Thanks something is in the news his last discussion. Wild. The president's comments recently you're in New Jersey you have a son and who goes a college in Baltimore in my hometown. Many people construe what the president said about Baltimore. And about his congressman as races probably how do you see. And it isn't pregnant. And he's getting you know. Now it's. Not okay now let's. Anderson I think they museum and it's OK we risk involved in my. I don't have I think it's anything can turn around under united. There early 'cause. It's my style I like Baltimore okay so I think it was. Learns and that's how many things here. I don't get that connection with the recent. Comments in the early crossing. Into the the women of color members of congress. It's. Famous people who say. Tonight an amended can't thank you feeling. Feel my tenure. CNN end the race. We're getting better. And it's. You are six quarter of presents from giving a laundry list quickly idealism why you think. He's doing good for the he's yeah. I've heard many years. Yeah. We're making. They really have no intention of it's okay sorry there is McCain's. Skinny and now I mean I'm in my even around me. New round and and apartments being there for young it's. Is really little. In my life right here today. Can. It's raining debris raining. During his every time it concerns about this president whether in substance or style. I'm concerned spring learned I mean. I was really did. When I write. You please help me. Interacts whether or not it's. I don't know I think is right then I want pain. You know. Maybe maybe not how it. Suggested he's races she rejected. We're comedian. Media. You're hearing. Thank you so much thank you enjoy your first rally. Two guys this situation here in Cincinnati out a couple of people who have been affected by the heat does warm here today. But has not discourage the enthusiasm you feel it. This sort of reminds you of the sporting event right you see all kinds of characters I in the crowd of Myanmar's people hear from supporters are excited to see. The man they voted for and move over again. Chua Byron Pitts thanks so much for that fire early interest in perspective is important here those voices appreciate it thanks so much much more. Former team on the ground in Ohio tonight as the president. Holds his reelection campaign rally now for different perspective on this I want to bring in Johnny republic again talk a little bit more about how the president himself. Has been talking about to book the democratic debate and these are racist allegations in the sickle attorney at the president's tweet as he heads out to Ohio. On this afternoon he said did the democratic candidate field last night he said he watched the stage last that the people on stage last night work. Not those. Who will make America great again he said or keep America Grady senator country known as breaking records in almost every category in the stock markets and military unemployment we're prosperity and success like never before. And he goes on to say were respected around the world I'll keep it that way Allen never let you down we will only grow bigger better. And stronger together which sort of was surprising to me because take a look at this picture. This is someone that he ran against and beat. And Tony sixteen Hillary Clinton. What's your campaign slogan stronger to get infected the title of her book and if so the president there actually craving for Hillary. Taking Hearst. Logan tunnels what I like Leslie who fled as only a modest library is anybody buying now I don't think the irony is lost on many now. Minority communities nobody in the country are no it's not but I think you also seen the president's week there what his fundamental art. And at that he is sometimes tries to make it doesn't always stay on message about which is the economy. And I think you have Democrats who agree that yes the economy is doing well but I think what you heard in that debate yesterday. He's where the different visions for how these different democratic candidates oh wanna move the country it's not necessarily about to say changing. The approach an economy that much for some candidates for Tenet like Joseph Biden. But it's about returning to sort of and Dieter sense of normalcy appeared Joseph Biden. Or you know towards a more grassroots progressive change if you're Bernie Sanders or or Elizabeth why. Yeah values based proposition is based arguments rent to continue this conversation want to bring in someone. From Dearborn Michigan. A community that we visited over the past a couple of days when we're out in Michigan for the Detroit Rima a monster dog law. Is the host of the die Dearborn girls podcast is coming to us from New York. She lives in Dearborn and does lead to podcasts of their -- great to see you want it sure. Our reaction. To the political discourse right now sort of a counterpoint to what we heard from that voter outside the Cincinnati venue where president trump tonight. Now how were the president's divisive race based attacks his rhetoric how's that plane and a community like yours in the heart of Michigan. We have so I think. But Connor played his right you know I listened very closely to what Nancy with bang and I think one thing that we do have in common is that. We are tired of candidates who have an empty platform you know we look at a platform we almost assume that. 70% of it is. You know up for grabs not really anything that we can expect them to deliver on an and that's something that my community specifically. Continue city tired of and you know you visited Dearborn yesterday and I was watching closely and I may. You mention that people rolled her eyes when you ask any kind of push. About Trump's comments and asked them to give their feedback and I think. There was a slight reference application of what that means often times and people rolled their eyes you probably assume that there they just don't feel like talking about male or. They don't have much to say and that's partially true we don't feel like talking about it sometimes because we're living had its something that were hyper aware of it something that. Really does inform our data David beauty of a community led Dearborn is that we're very insular and so becomes easy for us to feel. This false sense of safety and that people around us look like us and understand us but at the same time there's a juxtaposition. With. Our hyper awareness of how this country views o.s were very aware I grew up extremely aware of the fact that. On the national level Osama we'll be anti Arab sentiment xenophobia are things that are all at play and when we roll our I've I think it's because we're so used our voices not being at the table we're so used for the mics that are being held 'cause. When people are discussing issues that uniquely affect our community. And so and we think about treats like go back home. I mean. And I mention this before I think. My favorite parts about the country where bill on the backs of black people specifically. And minorities immigrants my community the community of immigrants we brought amazing things for the city of Dearborn the city of Dearborn. I am I'm not don't call me on the exact number but I think it. Around 86%. Private sector that would be the case without my community me in a candidate when we immigrated we really bolster the economy. And that's just not something that's being told them when we think things led go back home if you don't like it do something about it we are doing something about it and that's just not really a fair narrative. Too so say. Yet it did zero community we should remind everybody is the largest Arab American community in the country right in the heart of Michigan critical stage. In arch point one election and no stranger to a lot of this divisive debate on me I'm sure you do many of our viewers remember back in 2012 Terry Jones. Burning Koran controversy really put you guys on the map in the spotlight at that point as well sort of caught a lot of Dearborn residents off guard at that time why are you coming here why are you making this into. Such a big issue how does it make you feel when you hear the president fueling this discourse and how do you cope. As a community that seems to be getting on just fine very successful wonderful people. When we visited there. How how do you cope with the with the climate that is what is right now. I think some of which you showed and the foot is you know our businesses are booming we really love being around each other we love. Pouring back into our people that probably Coke an and you know I'm not a mother. Hopefully I plan to be a mother one day how I cope as I wanna educate my children I want them to be better I want them to be global citizens and see. Their position in the world as the love other people and so for other people I think. Trump has really found his niece and like Nancy fed has made small group of people feel very important and and the difference so you know my community has as yet to feel that way and that's why. We aren't really cynically engage on a national level the way that we should be the difference between trump making a community like whatever community you know. And people like Nancy feel very. Special on implant is that he does so at the expense of the livelihood in the safety of other people. Whereas other candidates that we that. You know we would hope would records I was wouldn't be doing so at the expense of other people they might not be agreeable but they're not challenging the safety and the livelihood of other community that I think it's very easy to forget that. When he when you don't have to think about those things everyday and sometimes we roll our dive because. Word we're just we're tired of talking we'd rather do. And you shouldn't have to be forced to defend your community and every turn from something like that coming from the White House that is no question read them on from Walla. A horse that Dearborn girls podcast in Dearborn Michigan really appreciate your time and your viewpoint Roemer appreciate you hope to have you back thank you. Finally now some breaking news overseas in the Korean Peninsula let's go straight to the State Department were Connor Finnegan is tracking a some late breaking Connor. Are coming in right now new project douse launched by the north Koreans. Yeah that's right DeVon Kim Jong-un is clearly sending a message to president trump a short while ago US official confirmed to ABC news. The North Korea has launched another projectiles it's the third launch. In little over a week now and clearly the north Koreans are trying to express that they are. Upset about coming military exercises between South Korea and the US. The US says that those exercises are for peaceful purposes the north career really views them. As a threat from a clear. Now that this is the first this is that as I said the third launched in in just last week it's also been a month now since president trump and Kim Jung and met at the demilitarized zone. In late June and since that time we were expecting working level talks to begin between north Cree in the US. But John bolts and the national security advisor said today that there has been no communication. From North Korea to the US they're still waiting. To hear about these working level talks those talks are critical for moving the ball forward now on denuclearization. On North Korea dismantling its nuclear. Weapons program. Mike Pompeo said today while in Bangkok Thailand but he's still optimistic that talks will happen. At some point shortly. But there's been only one meeting between the US and North Korea since. That DMZ needing it was for the White House to hand deliver photographs the north Koreans. Of prison trumping Kim Jung wins meeting. And there are also note talks Connor between the United States in Iran as much as president trampled like that he's announced as you reported yesterday some new sanctions on Iran's top diplomat that's not likely. Ought to go over well and then. On the good news column we should mention that there are continuing talks quietly not getting a lot of attention from average Americans but. The US and the Taliban negotiating an end to America's longest war in Afghanistan in your learning there could be some developments. Next few weeks. It's pretty amazing given for the first time in nearly eighteen years of war. The US and the Taliban may be close to actually signing some sort of peace agreement that's according to the chief US negotiator is on the ankle hillside. He's about to head into his eighth round of talks with the militant group. And and any deal could be coming within a matter of weeks a US official told me today. A deal would have four pillars in particular a national cease fire for the Afghan people. They would kick off. With so it sort of a national dialogue between the Afghan government civil society and other leaders and the Taliban to finally get them all in the room. It would require the Taliban to commit. Two and not allowing Afghanistan to become a safe haven for terrorism which is the reason that the US first invaded Afghanistan 2001. And of course it would include a US withdraw RO. Troops finally coming home perhaps. Fully from Afghanistan. Secretary of state Mike Pompeo said on Monday that he expects that that withdrawal would begin before the November 20/20 election. While that would be extraordinary a lot of diplomacy in action happening right now on three critical fronts North Korea or Iran Afghanistan. Thanks for staying on topic Connor Finnegan bringing us that update much more to From Connor and on the ABC news app. I think so much for joining us here on this Thursday in the briefing over here every day 3:30 eastern time 53630. As well. Tell your friends download the ABC news is that join us sent Hulu. Who lives roku FaceBook watch as well on Devin Dwyer Washington. But to see tomorrow.

This transcript has been automatically generated and may not be 100% accurate.

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