President Donald Trump on Thursday directed U.S. trade officials to identify tariffs on $100 billion more Chinese imports, upping the ante in an already high-stakes trade confrontation between the world’s two largest economies, Reuters reported.
Trump threatens China with new $100 billion tariff plan
STEPANAKERT, APRIL 6, ARTSAKHPRESS: CNN reported Donald Trump as saying, "In light of China's unfair retaliation, I have instructed the [United States Trade Representative] to consider whether $100 billion of additional tariffs would be appropriate.".
Earlier this week, the United States announced new tariffs on $50 billion worth of Chinese goods, claiming that China is stealing US intellectual property. China responded within hours by announcing $50 billion worth of tariffs on US goods.
The moves follow US tariffs that were imposed earlier this year on Chinese steel and aluminum, which also prompted retaliatory measures from China.
Trump's announcement late Thursday that his administration could target another $100 billion of Chinese goods rattled markets and drew criticism from businesses and from within his own party.
