U.S. President Donald Trump tweeted that tariffs on 2-hundred billion dollars of Chinese goods will increase to twenty-five percent by Friday.
A clear sign that negotiations between Washington and Beijing have a long way to go.
Kim Da-mi gets us up to speed with the developments.
U.S. President Donald Trump tweeted on Sunday that tariffs of 10 percent on certain Chinese goods will rise to 25 percent on Friday.
Trump said talks with China are going too slowly as Beijing tries to renegotiate.
In the tweet,...Trump said China has been paying tariffs to the United States of 25 percent on 50 billion dollars of high tech goods, and 10 percent on 200 billion dollars worth of other goods.
Trump then threatened to impose 25 percent tariffs on an additional 3-hundred and twenty-five billion dollars of Chinese goods “shortly.”
He had initially threatened to increase the tariffs at the beginning of the year...but postponed that decision after China and the U.S. agreed to sit down for trade talks.
The two countries, in fact, had seemed near to striking a trade deal in recent weeks.
Some analysts say that imposing additional tariffs may be part of Trump's strategy to reach a deal with Beijing.
According to The Wall Street Journal on Sunday, China was considering canceling the final round of talks in Washington this Wednesday in light of Trump's comments.
CNBC also reported that Chinese Vice Premier Lui He is likely to cancel his trip to Washington with a 100-person delegation for negotiations that U.S. officials had previously said could yield a deal by Friday.
The Chinese government has yet to officially comment on Trump's threats.
While trade talks between the two are thrown into doubt,...Chinese stock markets plunged on Monday with the Shanghai Composite dropping by more than 5 percent.
Kim Da-mi, Arirang News.
