President Trump to hike tariffs on USD 200 bn of China goods

President Donald Trump has announced that the United States would raise tariffs on 200 billion dollars of Chinese goods from 10 to 25 percent, complaining of a lack of progress in trade talks. 

In series of tweets Mr Trump today said trade deal with China continues, but too slowly, as they attempt to renegotiate. He said for 10 months, China has been paying tariffs to the USA of 25 percent



on 50 billion dollars of high tech, and 10 percent on 200 billion dollars of other goods. He added that the 10 percent will go up to 25 percent.

The two sides have imposed tariffs on 360 billion dollars in two-way trade since last year but Trump and Chinese leader Xi Jinping agreed to a truce in December to refrain from further escalation.