Donald Trump threatens to slap tariffs on almost all Chinese goods – more than US$500 billion – after Beijing fights back
The US president’s move to impose 10 per cent tariffs on US$200 billion of Chinese goods was seen as killing any chance of new talks taking place
US President Donald Trump is poised to levy punitive tariffs on all Chinese imports, following China’s announcement on Tuesday that Beijing will respond to Washington’s latest escalation of the trade war by imposing duties on US$60 billion of US imports.
Trump took to Twitter on Tuesday morning to say that any further action by China targeting US farmers and industrial workers would result in “great and fast economic retaliation” from the US.
The president had warned in a statement on Monday evening that such action would take the form of tariffs on the remaining US$267 billion of Chinese imports, further expanding the already unprecedented scope of the trade war.
Repeating that threat in the Oval Office on Tuesday afternoon, Trump said: “We don’t want to do it, but we probably – we'll have no choice.”
Trump announced on Monday that his administration would impose 10 per cent tariffs on US$200 billion of Chinese goods, effective next Monday, a move seen as likely killing any chance of further negotiations taking place.