Trump fires back at Beijing with threat of new tariffs on $200 billion in Chinese goods
https://www.cnbc.com/2018/06/18/trump-says-he-has-asked-ustr-to-identify-200-billion-in-chinese-goods-for-additional-tariffs-at-10-percent-rate.html
President Donald Trump has requested the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent.
The new duties 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," the president said in a statement provided by the White House late on Monday.
The move comes after the U.S. on Friday announced that it would impose a 25 percent tariff on up to $50 billion of Chinese products. Tariffs on an initial list of goods worth some $34 billion will kick in on July 6.
Monday's proposed measure is in response to Beijing's decision to raise tariffs on U.S. exports, the White House statement said.
U.S. stock index futures fell following the news. Dow Jones Industrial Average futures were down 0.63 percent during early Asian trade while S&P 500 e-mini futures eased 0.61 percent.
See the full statement from Trump here: