Trump Plans Tariff Increase on $200 Billion of Chinese Goods to 25 Percent

The Trump administration plans on raising proposed tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent, Bloomberg reports. The Trump administration already has put a 25 percent tariff on $34 billion worth of Chinese imports, and tariffs on another $16 billion are currently under review. On top of the existing tariffs, President Trump has publicly threatened the 10 percent tariff on a wide range of products—which he plans on raising to 25 percent in the coming days. Meanwhile, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are reportedly having “private conversations” to engage in talks after high-level negotiations have stalled for two months. Trump told supporters at a Florida rally Tuesday night that “China and others have targeted U.S. farmers” and that they “can take” tariff escalations.