Trump threatens to hike tariffs on $200B of Chinese imports
President Donald Trump raised pressure on China with a threat to hike tariffs on $200 billion worth of Chinese goods in a tweet that sent global financial markets swooning on Monday.
Trump’s comments on Twitter came as a Chinese delegation was scheduled to resume talks in Washington on Wednesday aimed at resolving a trade war that has shaken investors and cast gloom over the world economy.
Chinese government officials did not immediately respond to requests for comment.
Trump turned up the heat Sunday by saying he would raise import taxes on $200 billion in Chinese products to 25% from 10% as of Friday.
The Wall Street Journal, citing unidentified sources, said China’s government was considering canceling this week’s talks. Beijing has responded to previous U.S. threats by saying it wouldn’t negotiate under pressure.