Trump Threatens Additional $200B in Tariffs
President announced plans for more tariffs on Chinese imports
President Donald Trump sharply escalated trade tensions with China late Monday, announcing plans for an additional $200 billion in tariffs on Chinese imports, and threatening another $200 billion in tariffs on top of that, reports Market Watch.
In a statement, Trump said he has ordered the U.S. Trade Representative to identify $200 billion in Chinese goods that will face additional 10% tariffs.
The new tariffs are a tit-for-tat measure in response to China's retaliatory tariffs announced after the $50 billion in tariffs that the U.S. put into effect Friday.