A new 10 percent tariff on $200 billion in Chinese imports is being threatened by President Donald Trump in the latest move toward what could become a trade war.
Trump said the tariffs will go into effect if China refuses to change its practices, and if it insists on going forward with new tariffs of its own.
China’s Commerce Ministry criticized the new threat, saying it’s an “act of extreme pressure and blackmail.”
In announcing the newest tariffs on Monday, Trump said China “apparently has no intention” of changing what he calls unfair practices related to the acquisition of American intellectual property and technology.
Trump recently ordered tariffs on $50 billion in Chinese goods in retaliation for intellectual properly theft. Those tariffs were quickly matched by China on U.S. exports.