Trump pledges to raise tariffs on $200B of Chinese goods to 25%

Donald Trump. File photo: Flickr/Gage Skidmore

May 6 (UPI) — President Donald Trump said Sunday that the United States will increase tariffs on billions of dollars of Chinese goods beginning Friday.

Trump tweeted Sunday that tariffs on $200 billion of Chinese goods will rise from 10 percent to 25 percent on Friday and that additional tariffs on $325 billion worth of currently untaxed goods will be imposed at a rate of 25 percent “shortly.”

In February, Trump delayed a tariff hike planned for March 1, citing “productive” talks between the United States and China.

Trump said the decision to raise tariffs Friday was a result of prolonged negotiations to end the ongoing trade war between the two countries.

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“The trade deal with China continues, but too slowly, as they attempt to renegotiate. No!” Trump wrote.

Last week, Treasury Secretary Steven Mnuchin said the U.S. and China had made progress on difficult issues, including key market access and rolling back on punitive tariffs.

Trump has previously said a trade deal with China should be reached within the coming weeks but he is willing to walk away.

Sunday’s announcement comes ahead of continued trade discussions as Chinese Vice Premier Liu He is set to arrive Wednesday in Washington, D.C.

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