Trump escalates trade war with China with plan to raise tariffs

Stocks in Asia plummet after signal that US will hike import tax to 25%, dealing blow to hopes of a lasting deal

Donald Trump has escalated the trade war with China by announcing plans to hike the tariff imposed on $200bn of Chinese goods from 10% to 25% on Friday.

The US president also threatened to impose tariffs on all Chinese trade with America, a move that could further destabilise relations between the two economic powers.

For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars....

#Trump threat to impose 25% #tariffs on remaining Chinese goods may ironically be a sign of real progress. US, #China are nearing final deal but were bound to hit a wall. China shd have been expecting the Trump threat in final stages, could have compromise in back pocket ready..