Trump threatens seismic shift in trade war with China, suggesting new tariffs on $325 billion worth of Chinese goods

trump xi us china boxing 2x1Cameron Spencer/Getty; Win McNamee/Getty; Shayanne Gal/Business Insider

 

President Donald Trump threatened to dramatically escalate the trade war with China. Trump said that on Friday tariffs on $200 billion worth of Chinese goods will increase from 10% to 25% and the US will slap an additional $325 billion worth of Chinese goods with a 25% tariff. The move comes as the US and China are currently engaged in talks to end the year-long trade war. Visit Business Insider’s homepage for more stories.

President Donald Trump on Sunday threatened to dramatically ramp up the trade war with China unless a breakthrough on trade talks is reached by the end of the week.

The president said current tariffs on $200 billion worth of Chinese goods will be increased from 10% to 25% and the US will place 25% tariffs on an additional $325 billion worth of Chinese goods that are currently untaxed on Friday. Trump said the slow pace of trade deal negotiations was the cause for the new restrictions.See the rest of the story at Business Insider

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