Trump hits China with fresh tariffs, threatens more if Beijing retaliates
US President Donald Trump escalated his trade war with Beijing, imposing 10 percent tariffs on about $200 billion worth of imports in a move one senior Chinese regulator said "poisoned" the atmosphere for negotiations.
Trump also warned in a statement on Monday that if China takes retaliatory action against US farmers or industries, "we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports."
China is reviewing plans to send a delegation to Washington for fresh talks in light of the US decision, the South China Morning Post reported on Tuesday, citing a government source in Beijing, raising the risk of a prolonged trade battle between the world's largest economies that could hit global growth.
US trade actions against China will not work as China has ample fiscal and monetary policy tools to cope with the impact, a senior securities market official said.
