18:00 GMT16 June 2021
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    US President Donald Trump earlier ordered tariffs to be raised on all remaining US imports from China, which are valued at around $300 billion. China said it was forced to retaliate against the US pressure. However, the US president has hinted that the tariffs may be removed depending on the results of the trade talks.

    US President Donald Trump has ordered the US Trade Representative (USTR) Robert Lighthizer to start the process of raising tariffs of all remaining imports from China valued at $300 billion. According to the USTR, more details will be available next week.

    Robert Lighthizer said in a statement on Friday the details on the process for a public notice and comment period for the tariffs will be published shortly in the Federal Register.

    Earlier on Friday, a fresh round of US trade tariffs took effect with an increase in duties on $200 billion worth of Chinese goods from 10 percent to 25 percent.

    READ MORE: Possibility of Lifting China Tariffs Depends on Future Negotiations — Trump

    Trump has said that the latest tariffs, which went into effect at 12:01 a.m. on Friday, would produce "massive payments" that would go directly to the US Treasury Department.

    Earlier on Friday, US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthize met with Chinese Vice Premier Liu He for the second day of trade negotiations. Mnuchin said the talks were constructive but declined to provide any more details.

    The two sides have been trying to overcome disagreements that emerged in the wake of Trump’s decision last June to impose 25 percent tariffs on $50 billion worth of Chinese goods in a bid to fix the US-Chinese trade deficit. Since then, the sides have exchanged several rounds of trade duties.

    Vice Premier Liu He, who lead the bilateral trade talks from the Chinese side on Friday, said that Beijing is forced to retaliate against US trade tariff increases but hopes that Washington would exercise restraint.

    "If the United States increases tariff rates, we will have to respond to this, too. Of course, we hope that the United States exercises restraint. Then, China will adhere to a restrained position, too. One cannot indefinitely demonstrate wrath", Liu said in an interview with the Chinese CCTV broadcaster on Friday after the two-day trade talks in Washington, DC.

    READ MORE: US Stocks Plunge on Monday Morning Amid Trump's Tariffs Threats

    A business group consisting of CEOs of major US corporations warned in a statement earlier on Friday that Trump’s decision to raise tariffs from 10 percent to 25 percent on $200 billion of Chinese imports threatens to harm the US economy.

    However, Trump said in a statement on Friday that US-China trade talks would continue. According to Vice Premier Liu He, China and the United States agreed to hold the next round of talks in Beijing.


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