Washington (CNN) President Donald Trump's decision to escalate tariffs on $200 billion of Chinese goods on Friday is angering American businesses that say they were taken by surprise. But Trump reversed course on Sunday, threatening to raise the tariff rate. The third and biggest tranche on $200 billion of Chinese goods went into effect in September. Trump administration officials said Monday that the administration would also move forward with a process to impose new tariffs on additional Chinese goods. Trump had floated the idea over the weekend to slap duties on another $325 billion of imports, which would result in a tax on most -- if not all -- Chinese goods coming into the United States.

Source: CNN May 07, 2019 09:45 UTC