Trump threatens to hit China with new tariffs on $200 billion in goods

WASHINGTON (Reuters) - U.S. President Donald Trump threatened on Monday to impose a 10 percent tariff on $200 billion of Chinese goods, escalating a tit-for-tat trade war with Beijing.

U.S. President Donald Trump addresses a meeting of the National Space Council in the East Room of the White House in Washington, U.S., June 18, 2018. REUTERS/Leah Millis

Trump said in a statement he had asked the U.S. trade representative to identify the Chinese products to be subject to the new tariffs. He said the move would be in retaliation for China’s decision to raise tariffs on $50 billion in U.S. goods.

“After the legal process is complete, these tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced,” Trump said.

Reporting by Eric Beech; Editing by Sandra Maler

Source link