WASHINGTON: US 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. Trump had previously delayed the tariff increases earlier in the year, citing productive talks with China. Trump said on Twitter that tariffs will increase to 25% on Friday and that more Chinese goods will face additional tariffs. "The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. As recently as Friday, Trump said talks with China was going well.

Source: Mint May 05, 2019 17:26 UTC