US President Donald Trump announced Sunday that the United States would raise tariffs on $200 billion of Chinese goods to 25 percent this week, because trade talks are moving “too slowly.”
Trump’s action came as a major Chinese delegation is expected to arrive Wednesday in Washington for the latest round of talks to end the trade war between the world’s two biggest economies — a round billed as the last one and possibly leading to a deal to end the conflict.
“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,” Trump 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.