Trump Taunts China As US To Hike Tariffs To 25%

Reuters reports:

The United States announced on Wednesday it would hike tariffs on $200 billion worth of Chinese imports from 10 to 25 percent effective Friday, according to a notice posted on the Federal Register.

Sources with knowledge of the talks told Reuters that China has sought to alter previously agreed provisions specifying changes to Chinese laws affecting nearly every chapter of a nearly 150-page proposed trade deal between Washington and Beijing.

The changes sought by China would create major hurdles in reaching a deal in two days of talks with Chinese Vice Premier Liu He this week before the tariff increase goes into effect.

The New York Times reports:

President Trump taunted China on Wednesday morning, saying in a tweet that Chinese negotiators were attempting to drag out trade negotiations until a “very weak” Democrat was back in the White House and insisting he would be happy to keep tariffs on Chinese exports rather than make a deal.

Mr. Trump’s Twitter taunt comes as Chinese negotiators are en route to the United States to try and salvage a trade agreement that has fallen apart in recent days. The comments are likely to inflame tensions as negotiators on both sides prepare to reconvene for several days of meetings aimed at bringing those talks back from the brink.