President Trump: China Tariffs Will Jump to 25% This Week

US President Donald Trump is not satisfied with the pace of progress in negotiations with China

Trump also said that tariffs paid by China "are partially responsible for our great economic results", although it is companies that import Chinese goods, not China itself, that pay the bulk of the additional costs. "325 Billions Dollars of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%", he added.

Aides set up platforms before a group photo with members of US and Chinese trade negotiation delegations at the Diaoyutai State Guesthouse in Beijing, China, February 15, 2019.

He'd twice pushed back deadlines - in January and March - to raise the tariffs in a bid to buy more time for a negotiated settlement.

Trump's announcement of the higher tariffs comes at a crucial time, just before what had been billed as a penultimate round of talks between the USA and are set to resume Wednesday in Washington, DC.

The Trump administration has met with Chinese officials over the last few months in hopes of striking a new trade deal. His threat increases pressure on a deal that Trump said has been going "too slowly".

President Trump and Treasury Secretary Steve Mnuchin, second from right, listening to remarks by Chinese President Xi Jinping during a bilateral meeting at the G20 Summit in December 2018.

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Trump, however, warned that although talks were continuing, they were progressing too slowly as Beijing tries to renegotiate.

Mr Trump's latest move will raise duties on more than 5000 products made by Chinese produces, ranging from chemicals to textiles and consumer goods. The U.S. has sought a number of reforms from China, including some that demand fundamental changes to the way the Chinese government manages its economy, such as the end of subsidies to Chinese "national champions" and ending the requirements that U.S. companies partner with Chinese companies when they do business in the Asian nation.

Several sticking points have emerged in recent talks, the most recent of which concluded last week in Beijing.

Bloomberg Economics chief economist Tom Orlik said: "It's possible talks are breaking down, with China offering insufficient concessions, and an increase in tariffs a genuine prospect".

But on Sunday, Trump, who has called himself a "tariff man", said he's losing patience.

Despite Mnuchin's more upbeat interpretation of the last negotiating round, Pillsbury said he assumed Trump's tweet came after a more sobering update from U.S. Trade Representative Robert Lighthizer, including information that China had walked back from some things to which it had previously agreed.

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