President Donald Trump threatened on Monday night to impose new tariffs on China after Beijing retaliated against his initial decision to slap tariffs on $50 billion worth of Chinese imports. In a statement, Trump said he asked the U.S. trade representative to “identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent.” Trump also threatened to repeat that action if China retaliates again in response to the latest U.S. penalties. “I have an excellent relationship with President Xi, and we will continue working together on many issues,” Trump said. “But the United States will no longer be taken advantage of on trade by China and other countries in the world.”
