Trump threatens extra tariffs on US$200b of Chinese goods

Trump threatens extra tariffs on US$200b of Chinese goods

FILE PHOTOS: A combination of file photos showing Chinese President Xi Jinping (L) at London's Heathrow Airport, October 19, 2015 and U.S. President Donald Trump posing for a photo in New York City, U.S., May 17, 2016. REUTERS/Toby Melville/Lucas Jackson/File Photos
WASHINGTON: President Donald Trump unveiled plans on Monday (Jun 18) to impose 10 per cent tariffs on US$200 billion worth of Chinese goods on top of previous punitive measures over Beijing's "unacceptable" move to raise its own tariffs."Further action must be taken to encourage China to change its unfair practices, open its market to United States goods and accept a more balanced trade relationship with the United States," Trump said in a statement.
The US leader warned that after the new measures are in place - on top of existing tariffs on US$50 billion in Chinese imports - punitive measures on another US$200 billion of Chinese goods would go forward "if China increases its tariffs yet again.""After the legal process is complete, these tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced," Trump said.
Source: Reuters/mn
 Source : http://www.channelnewsasia.com/news/asia/trump-threatens-extra-tariffs-on-us-200b-of-chinese-goods-10445482