The emerging stalemate in U.S. "This is a tool China will save as a last resort, and it may not even be used in the unlikely event of a breakdown in trade negotiations".
"After trade talks broke up later in the day, US officials said they were preparing to expand those tariffs to cover another $300 billion of goods, covering most imports from China", reports Fox News.
The additional tariff of 25pc will be levied against 2,493 goods including liquefied natural gas, soy oil, peanut oil, petrochemicals, frozen vegetables and cosmetics, the ministry said, and of 20pc on 1,078 products.
"I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don't make a deal because companies will be forced to leave China for other countries", he wrote. "You had a great deal, nearly completed, and you backed out!" "He claimed that it had been "proven recently" that out of the 25 percent increase, "only 4 points were paid by the U.S." while "21 points" were paid by China". Trump also ordered the Office of the United States Trade Representative (USTR), to begin the process of raising tariffs on essentially all remaining imports from China, which are valued at approximately $300 billion.
He said: "China is dreaming that Sleepy Joe Biden, or any of the others, gets elected in 2020".
The move comes three days after the United States more than doubled tariffs on $200bn of Chinese imports.
"Footwear is already hit with a $3 billion tariff bill EVERY Year".More news: Samsung Smart TVs Gain Apple's TV App and AirPlay 2 Support
Trump has defended the US tariff hike and said he was in "absolutely no rush" to finalize a deal with China.
Companies are waiting to see how China will retaliate for President Donald Trump's latest tariff hikes on Chinese imports while economists warned the escalating dispute could slow growth. Trump said last month that he would end preferential trade treatment for India, which would result in U.S. tariffs on up to $5.6 billion of imports from India.
China will slap import surcharges on 5,140 USA products starting on June 1, with levies of 25 per cent on agricultural products such as honey, vegetables, coffee and various meats.
"It is a negotiation and part of the negotiation is taking action, " he said. The negotiation period was extended after March.According to U.S. officials, the two countries were ready with the draft of the final deal that they had negotiated.
"It's clear that there is a lot of nervousness around the U.S".
That was followed by China's early-May move to - according to US officials - backtrack on its agreement to enshrine concessions in law, offering instead to issue directives by the State Council.
Trade talks wrapped up later Friday in Washington without an agreement.More news: City not finished yet, desperate to win treble, says Kompany
The latest US charges could knock 0.5 percentage points off annual Chinese economic growth and that loss could widen to 1 percentage point if both sides extend penalties to all of each other's exports, economists say.
"There is nothing to be afraid of", said the party newspaper People's Daily. "Both sides will pay in these things".
People close to the talks said finding an agreement is likely to prove increasingly hard with hardliners on both sides seeing the latest breakdown as evidence the other side can not be trusted.
After polite words by both sides on Friday about "constructive" discussions, the rhetoric grew more heated over the weekend.
Trump on Saturday took to Twitter to taunt the Chinese. That's why China wants to make a deal so badly!
The result has been a volatile week-long roller coaster with no end in sight.
-China Business Council, an industry group, said officials appeared to be studying the potential impact on China's economy before deciding how to respond.More news: Hamilton could join Ferrari, suggests Mercedes chief Wolff