Trump Threatens to Raise China Tariffs to 25% This Week

US President Donald Trump is not satisfied with the pace of progress in negotiations with China

ALEX BRANDON APUS President Donald Trump is not satisfied with the pace of progress in negotiations with China

Trump also said that he would soon impose a 25 percent tariff on an additional $325 billion of Chinese goods that have not yet been subject to the higher duties. That increase will now go into effect on Friday, Trump said in a tweet.

President Trump, who has called himself a "tariff man", vowed to hike import taxes on $200 billion in Chinese products from 10 percent to 25 percent.

Trump had previously delayed the tariff increases earlier in the year, citing productive talks with China.

Chinese negotiators arrive in Washington this week for what many both inside and outside the administration have said could be a final round of talks to produce a trade agreement - at least in principle.

Trump and the Chinese president will decide after the negotiations this week whether they'll meet to sign off on a pact. Mr. Trump repeated a threat to raise the rate on existing tariffs and tax almost all of China's exports to the United States. With the presidential election scheduled for November 2020, Trump may now come under pressure from his Democratic rivals to defend the economic damage from the conflict.

He tweeted his frustration over how slowly the negotiations were progressing, writing: "The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!"

Once he took office, Trump's relationship with his Chinese counterpart, Xi Jinping, seemed to get off to a good start.

Mr Trump's latest move will raise duties on more than 5000 products made by Chinese produces, ranging from chemicals to textiles and consumer goods.

The Trump administration has met with Chinese officials over the last few months in hopes of striking a new trade deal.

Wells Fargo Senior Economist Mark Vitner on the Trump administration trade negotiations with China and the state of the USA job market.

It is understood that key sticking points include how to police any deal, and whether existing tariffs will be removed or stay in place.

"Nobody in the business community likes the tariffs", he said.

Two days ago, White House economic adviser Kevin Hassett said the Trump administration is "heartened" to see progress in trade talks with China though some issues still need to be resolved. He has railed against America's trade deficit in goods China, which swelled past year to record $419 billion.

Latest News