Speed Reads


Trump threatens to increase tariffs on Chinese goods on Friday

President Trump tweeted on Sunday that on Friday, he would like to increase tariffs on $200 billion worth of Chinese goods, raising the fee from 10 percent to 25 percent.

"The Tariffs paid to the USA have had little impact on product cost, mostly borne by China," he claimed. "The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" He also said $325 billion worth of additional Chinese goods "remain untaxed, but will be shortly, at a rate of 25 percent."

Over the last five months, Chinese negotiators have been working with their American counterparts on an agreement, and Chinese Vice Premier Liu He was scheduled to arrive in Washington, D.C., on Wednesday to meet with Trump, accompanied by a 100-member delegation. Chinese officials are now discussing whether the trip should be scrapped, people familiar with the matter told The New York Times.