10 things you need to know today: August 2, 2019

Trump announces new tariffs against China, the U.S. agrees to cut Afghanistan troop strength in Taliban deal, and more

An American flag in China
(Image credit: GREG BAKER/AFP/Getty Images)

1. Trump says he'll impose new tariffs on Chinese goods in September

President Trump said Thursday that he would impose 10 percent tariffs on another $300 billion worth of goods imported from China next month, scrapping a trade-war truce he had struck with Chinese President Xi Jinping in June. Stocks had been up sharply, but the news sent them plunging. Trump said he was going ahead with the new tariffs starting Sept. 1 partly because China had not fulfilled a promise to buy more U.S. agricultural products. Trump has already hit China with 25 percent levies on $250 billion worth of its exports to the U.S. Nearly all Chinese imports will now be affected. China threatened countermeasures. "We won't accept any maximum pressure, intimidation, or blackmail," Chinese Foreign Ministry spokeswoman Hua Chunying said.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.