Trade war b/w US & China, US impose additional $100 Million tariff

Washington, April 6: US President Donald Trump has said he is considering slapping an additional $100 billion in tariffs on Chinese goods, moving the world's two largest economies closer to an open trade brawl.

Trump on late Thursday said that he was responding to "unfair retaliation" by China, which published a list on Wednesday of $50 billion in American products that would be hit by tariffs, including soybeans and pork.

The move by China was a direct reaction to the tariffs on $50 billion in Chinese goods that the White House detailed on Tuesday.

China's Ministry of Commerce responded, saying Beijing would "not hesitate to pay any price" to defend its interests. "We don't want a trade war, but we are not afraid of such a war," it said.

The US President in his announcement said: "In light of China's unfair retaliation, I have instructed the US Trade Representative (USTR) to consider whether $100 billion of additional tariffs would be appropriate.