]>> President Trump upped the anti against China in a looming trade war late Thursday, saying he's looking at $100 billion more in tariffs on Chinese imports. Trump will be piling that onto an initial 50 billion plan from last week. The President said in a statement, the extra tariffs were being weighed up after China's retaliation on Tuesday, to match America's initial trade threat, raising the stakes in an already heated dispute between the world's two biggest economies.
In a statement, Trump said quote,rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers. Beijing's latest round in this back-and-forth aimed at US imports like soybeans and planes. And Republican lawmakers from Western and Midwestern States have voiced worries about a big hit to agriculture.
Trump also said the US determined China has repeatedly engaged in practices to unfairly obtain America's intellectual property. Within hours US futures fell in the news with the S&P 500 and Dell futures dipping below 1%, and trade analysts forecasting a more market volatility on trade. Late on Thursday, a US officials separately told Reuters that the US is willing to negotiate with China on trade, but only if talks are serious.
They said the White House feels when Beijing came to previous attempts to talk, it had not been in good faith. However, no official negotiations have been set. Both sides trading threats on tariffs has sparked anxiety it could all break out into a real trade war that may crash the global economy.
Chinese state media responded to Trump on Friday calling the the latest tariff threats from the US a ridiculous and bomb like threat, that reflected quote, the deep arrogance of some American elites.