In abrupt turn, Trump vows higher U.S. tariffs on China goods
U.S. President Donald Trump on Sunday dramatically increased pressure on China to reach a long-sought trade deal by announcing he will markedly increase U.S. tariffs on certain Chinese goods.
Trump had previously delayed the tariff increases earlier in the year, citing productive talks with China.
Trump said on Twitter that tariffs will increase to 25% on Friday and that more Chinese goods will face additional tariffs.
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"The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" Trump tweeted.
U.S.-China trade talks are due to resume this week, with Chinese Vice Premier Liu He due to travel to Washington. That follows talks in April in Beijing that Treasury Secretary Steven Mnuchin called "productive."
As recently as Friday, Trump said talks with China was going well.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
11:00 PM IST