President warns China not to moves forward with tariffs of its own, as countries face potential trade war
Donald Trump directed the US Trade Representative to prepare new tariffs on $200 billion in Chinese imports Monday as the two nations moved closer to a potential trade war.
The tariffs, which Trump wants set at a 10% rate, would be the latest round of punitive measures in an escalating dispute over the large trade imbalance between the two countries. Trump recently ordered tariffs on $50bn in Chinese goods in retaliation for intellectual properly theft. The tariffs were quickly matched by China on US exports.