Trump wants to impose tariffs about $ 200bn on Chinese products

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US President Donald Trump has instructed his aides to move forward with tariffs on about $ 200 billion worth of Chinese products, despite Treasury Secretary Steven Mnuchin's attempts to resume talks with China on trade war, Bloomberg said on Friday. Reuters could not immediately verify the report, which had an immediate effect on the financial markets. This has led US stocks to decline, backed by the retreat of the Chinese yuan and gains in the dollar index, in addition to weighing heavily on the S & P 500 index. The move comes exactly a week after Trump raised the possibility of imposing tariffs on $ 200 billion in imports and also threatened to tax more $ 267 billion on Chinese goods. Trump has already imposed tariffs on $ 50 billion worth of products imported from China. The United States imported only $ 505 billion worth of products from China last year. But 2018 imports from China by July rose nearly 9 percent from the same period in 2017, according to data from the US Census Bureau.

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