>> So to every citizen>> An angry Donald Trump escalated the trade fight with Beijing late Monday. He's now threatening to slap his largest tariffs yet on Chinese goods to the tune of $200 billion worth of products. In a statement Trump said he told the US trade representative to start identifying targets for what would be a 10% tax.
He's calling the move retaliation. Last week, after Trump pushed ahead with a separate $50 billion worth of tariffs on Chinese goods, Beijing then matched them with its own $50 billion. It's all pointed to the two sides slipping towards an all-out trade war. Tensions have risen since recent talks failed to deal with US complaints of trade abuse.
Trump's latest threat sent Asian markets plummeting to a full month low on Tuesday. And Chinese officials warned they'd fight back if the US publishes its new list of tariffs. However, Trump had already warned Beijing not to do that in a statement. Saying if Beijing retaliates yet again, the US will pursue a second count of $200 billion on Chinese goods.