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    U.S. President Donald Trump, second right, and China's President Xi Jinping, second left, attend their bilateral meeting at the G20 Summit in Buenos Aires, Argentina.

    US on Friday to Bump Tariffs 25% on $200bn Worth of Chinese Goods - Trump

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    MOSCOW, 5 May (Sputnik) - US President Donald Trump said on Sunday that he will increase tariffs on Chinese goods from 10 percent to 25 percent beginning Friday, while other goods from China may also soon fall under new increased duties.

    "For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday", Trump wrote on Twitter.

    ​Washington will also soon impose 25 percent tariffs on other Chinese goods worth $325 billion, the president noted.

    "The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" Trump underlined.

    READ MORE: US Urges China to Address IP Concerns or Face New Tariffs — Trade Representative

    The statement comes after US Treasury Secretary Steven Mnuchin travelled to Beijing to discuss the remaining issues left between the two states on the agenda of their ongoing trade talks.

    In the bilateral consultations, Washington and Beijing are trying to work out a mutually acceptable trade agreement that would put an end to an almost year-long tariff war between the world's largest economies.

    China and the United States have been engaged in a trade dispute since last June, when Trump announced that the United States would subject $50 billion worth of Chinese goods to 25 percent tariffs in a bid to fix the over $400 billion US trade deficit with China. Since then, the two countries have exchanged several rounds of trade tariffs.

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    trade war, tariffs, Donald Trump, China, United States
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