Trump says tariffs on Chinese goods will increase to 25% on Friday

Trump says tariffs on Chinese goods will increase to 25% on Friday

Washington will also soon impose 25 percent tariffs on other Chinese goods worth $325 billion, the president noted.

Trump has threatened to increase those tariffs before but has pushed back plans to raise them twice.

President Trump, who has called himself a "tariff man", vowed to hike import taxes on $200 billion in Chinese products from 10 percent to 25 percent.

But in a tweet on Sunday, Mr. Trump said talks were progressing "too slowly" and suggested that the Chinese were attempting to renegotiate the deal. His threat increases pressure on a deal that Trump said has been going "too slowly". He has railed against America's trade deficit in goods China, which swelled previous year to record $419 billion.

President Trump and Treasury Secretary Steve Mnuchin, second from right, listening to remarks by Chinese President Xi Jinping during a bilateral meeting at the G20 Summit in December 2018.

FILE PHOTO: Aides set up platforms before a group photo with members of USA and Chinese trade negotiation delegations at the Diaoyutai State Guesthouse in Beijing, China, February 15, 2019.

US officials, including the president, have often said that while the talks have been going well it was still possible a deal would not be struck.

Trump launched the trade war in July, after an investigation by his trade officials concluded that China routinely abuses the intellectual-property rights of American companies.

Huddersfield Town vs. Manchester United - Football Match Report
Meanwhile intense speculation surrounds the futures of midfielder Paul Pogba as well as forwards Alexis Sanchez and Romelu Lukaku. "You've got Leicester, Everton , Watford , probably Newcastle, you've got clubs that want to chase us".

Last week, industry sources said they believed the talks were in the endgame, but the Trump administration official said aides had told the president that significant hurdles to a deal remained.

But many economists are anxious about the longer term effects on the United States economy.

Based on calculations by Bloomberg Economics, tariffs at the current level add up to a 0.5 percentage-point drag on China's gross domestic product growth this year.

Trade trade talks are due to resume this week, with Chinese Vice Premier Liu He due to travel to Washington.

Vice President Mike Pence said Friday that Trump is prepared to impose even more tariffs if no deal is reached.

The Trump administration says it has seen promises and commitments ignored in the past, so this time it will not sign a deal unless it features measures that will allow Washington to verify that China is keeping its word.

The president, a self-described "tariff man" who believes the trade imbalance can be whittled down with the use of import duties, explicitly linked US growth to the imposition of Chinese tariffs.