After Trump’s new tariffs, Beijing retaliates by imposing fresh taxes of its own, escalating the trade war between China and the US.
U.S. President Donald Trump tweeted that tariffs of 10% on certain Chinese imports would rise to 25% on Friday, and $325bn of untaxed goods could face 25% duties “shortly.”
Trump also cited talks on US-China trade deal moving “too slowly”:
….of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%. The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!
— Donald J. Trump (@realDonaldTrump) May 5, 2019