The announcement follows talks between the world's two largest economies in Shanghai this week, the first time negotiators met since Trump and his Chinese counterpart Xi Jinping agreed at the G20 to pause further tariff hikes and get back to the table.
US President Donald Trump escalated the trade war with China on Thursday announcing he will hike tariffs on some 300 billion dollars' worth of Chinese goods to 10 per cent starting on 1 September.
The measures are on top of the 25-per-cent tariffs that have already been imposed incrementally over the past year on 250 billion dollars' worth of Chinese products. When they take effect, all Chinese goods coming into the US will be subject to punitive tariffs.
The announcement follows talks between the world's two largest economies in Shanghai this week, the first time negotiators met since Trump and his Chinese counterpart Xi Jinping agreed at the G20 to pause further tariff hikes and get back to the table.
In announcing the new tariffs, Trump said China had retreated from its pledge to increase purchases of US agricultural products and reneged on a promise to stop the sale of Fentanyl, a synthetic opioid, to the US.
