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US tariffs on $200B of Chinese goods to rise to 25%, Trump says

Compiled from wire services ECONOMY
Published May 05,2019
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U.S. President Donald Trump raised pressure on China over trade negotiations on Sunday by saying U.S. tariffs on certain Chinese products will increase to 25% on Friday and that more Chinese goods will face additional tariffs.

"For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods," Trump wrote on Twitter.

"The 10% will go up to 25% on Friday. 325 Billions Dollars of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%," he added.

Trump said that trade negotiations are moving "too slowly."

"The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" Trump tweeted.

Trump had previously delayed the tariff increases earlier in the year, citing productive talks with China.

U.S.-China trade talks are due to resume this week, with Chinese Vice Premier Liu He due to travel to Washington. That follows talks in April in Beijing that Treasury Secretary Steven Mnuchin called "productive."

As recently as Friday, Trump said talks with China was going well.