Trump threatens to raise tariffs on $200bn of Chinese goods

Trump threatens to raise tariffs on $200bn of Chinese goods
# 06 May 2019 02:42 (UTC +04:00)

Donald Trump has said he will raise tariffs on $200bn (£152bn) of Chinese goods, because talks on a US-China trade deal are moving "too slowly", ONA reports citing BBC.

The US president tweeted that tariffs of 10% on certain goods would rise to 25% on Friday, and $325bn of untaxed goods could face 25% duties "shortly".

"The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" he tweeted.

The countries have seemed near to striking a trade deal in recent weeks.

Mr Trump delayed further tariff increases earlier in the year, citing progress in talks.

The move increases pressure on China as Vice-Premier Liu He prepares to travel Washington this week to resume negotiations.

That follows talks in April in Beijing that US Treasury Secretary Steven Mnuchin called "productive".

White House economic adviser Larry Kudlow told Fox News that the president's tweet was a warning.

"The president is, I think, issuing a warning here, that, you know, we bent over backwards earlier, we suspended the 25% tariff to 10 and then we've left it there.

"That may not be forever if the talks don't work out," he said.

But Michael Pillsbury, an informal trade adviser to Trump, said he took the president's tweet "at face value".

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