Washington sources reported that US President Donald Trump's administration will impose a 10% tariff later this month on $200 billion worth of Chinese goods, increasing to 25% at the end of the year, a move that will sharply escalate the American trade war with Beijing. Meanwhile the administration announced on Monday that the additional tariffs which will take effect from September 24, are on top of penalties enacted earlier this year on $50 billion worth of Chinese goods.



Furthermore taken together, it means roughly half of the products that China sells to the US each year will be hit by American tariffs. Earlier in July, the administration published a list of thousands of products that would be subject to the latest round of trade penalties. Accordingly more than 300 products were removed from that list including smart watches, health and safety devices and children's playpens.

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Moreover Trump had urged his advisers to press forward with the $200 billion round, even as Washington and Beijing worked to restart trade talks. Furthermore Trump also threatened to inflict more economic pain in the form of additional tariffs if Beijing takes any retaliatory action. Treasury Secretary Steven Mnuchin had invited the negotiators to Washington this week to resume talks.


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