DONALD Trump has stepped up the trade war with China by announcing he will raise tariffs on $200billion (£152billion) of Chinese goods. The US President is hoping to increase pressure on Beijing af…
Trump and Chinese President Xi Jinping had been due to meet in June
The Wall Street Journal reported on Sunday night that China was considering cancelling this week's trade talks in Washington in light of Trump's comments that took Chinese officials by surprise. Trump said tariffs on $200 billion of goods would increase to 25 per cent on Friday from 10 per cent, reversing a decision he made in February to keep them at the 10 per cent rate after progress between the two sides.The President also said he would target a further $325 billion of Chinese goods with 25 per cent tariffs "shortly," essentially targeting all products imported to the United States from China.
"The Tariffs paid to the USA have had little impact on product cost, mostly borne by China," he tweeted.Most of those companies are US-based.
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