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Trump threatens higher U.S. tariffs on China

Credit: Reuters Studio
Published on May 5, 2019 - Duration: 01:09s

Trump threatens higher U.S. tariffs on China

U.S. President Donald Trump on Sunday dramatically increased pressure on China to reach a long-sought trade deal by announcing he will markedly increase U.S. tariffs on certain Chinese goods.

Tamara Lindstrom reports.

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Trump threatens higher U.S. tariffs on China

U.S. President Donald Trump on Sunday took a suddenly threatening tone toward China, declaring he could raise U.S. tariffs on Chinese goods by the end of the week.

The warning comes as U.S.-China trade talks were due to resume, and just two days after the president appeared optimistic about the outcome.

(SOUNDBITE) (English) U.S. PRESIDENT DONALD TRUMP, SAYING: "But the deal itself is going along pretty well.

I would even say very well.

We'll see what happens over the next couple of weeks, but we're getting close to a very historic monumental deal and if it doesn't happen we'll be fine too, maybe even better." But Sunday's announcement casts into doubt previous expectations that China and the United States were closing in on a deal.

"The Trade Deal with China continues, but too slowly, as they attempt to renegotiate.

No!" Trump tweeted.

Last week, industry sources said they believed the talks were in the endgame, and Treasury Secretary Steven Mnuchin had said he hoped that the U.S. negotiating team would soon be able to recommend a deal to Trump or tell him that one could not be reached.

Trump had previously delayed the tariff increases earlier in the year, citing productive talks with Beijing.

The months-long trade war has been blamed for slowing global growth and disrupting financial markets.

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