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Trump to hike tariffs on USD 200 bn of China goods

AFP  |  Washington 

President Donald Trump announced on Sunday that the United States would raise tariffs on USD 200 billion of Chinese goods from 10 to 25 percent, complaining of a lack of progress in trade talks.

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

"For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods," Turmp tweeted.

"The 10% will go up to 25% on Friday," he said.

The two sides have imposed tariffs on $360 billion in two-way trade since last year but Trump and Chinese leader Xi Jinping agreed to a truce in December to refrain from further escalation.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, May 05 2019. 22:50 IST