The world’s two largest economies have already applied tariffs to $50 billion of each other’s goods. Talks aimed at easing tensions ended last month without major breakthroughs, and Washington appears emboldened by a sell-off in Chinese markets and a weakening economy. Trump said Wednesday he was not prepared to make a deal with China “that they’d like to make.” Still, he added, his administration will “continue to talk to China.” Trump’s remarks to reporters on Friday sparked a 100-point drop in the Dow Jones Industrial Average around 12 p.m. ET, with the apparent escalation in the trade tensions with China.
Trump administration reportedly readying another $267 billion in tariffs on Chinese importsPresident Donald Trump told reporters on Air Force One Friday that he was “ready to go” on tariffs for another $267 billion in Chinese goods “if he wants,” which would come on top of the $200 billion in goods already targeted, according to Bloomberg and Reuters. Already the administration was set to announce it would impose the tariffs on the $200 billion in goods, after threatening them in an ongoing and escalating dispute with China. A public comment period on this set of tariffs expired Thursday in the U.S. China’s commerce ministry has said the country would retaliate if the U.S. imposes new tariffs.