Trump escalates attacks on China and threatens to raise tariffs

President 'hereby orders' US firms to seek alternative locations and suggests Fed Chair is an 'enemy'

Donald Trump escalated his attacks on China on Friday, bumping up tariffs on Chinese imports and ordering US companies to leave China.

Trump's announcements on Friday - all on Twitter - came after the president launched another blistering criticism of the Federal Reserve chairman, Jerome Powell, asking: "Who is our bigger enemy, Jay Powell or [China's] Chairman Xi?"

Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won't let that happen! We don't need China and, frankly, would be far....

....your companies HOME and making your products in the USA. I will be responding to China's Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,....

Related: Can the Fed's chair shake off the wolves of Wall Street and White House?

As usual, the Fed did NOTHING! It is incredible that they can "speak" without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work "brilliantly" with both, and the U.S. will do great...