United States president Donald Trump today pulled the trigger on a new round of tariffs on Chinese goods, escalating the trade war with China which was seemingly coming to an end. China has said it will hit back. 

As Trump announced on Sunday, he has increased the tariffs on USD 200 billion of Chinese goods from 10% to 25%. In total, USD 250 billion of Chinese goods are now taxed with import levies of 25%.

CNN reports that the Chinese government expressed “deep regret over the development” and pledged to take “necessary countermeasures.”

….The process has begun to place additional Tariffs at 25% on the remaining 325 Billion Dollars. The U.S. only sells China approximately 100 Billion Dollars of goods & products, a very big imbalance. With the over 100 Billion Dollars in Tariffs that we take in, we will buy…..

— Donald J. Trump (@realDonaldTrump) May 10, 2019

….agricultural products from our Great Farmers, in larger amounts than China ever did, and ship it to poor & starving countries in the form of humanitarian assistance. In the meantime we will continue to negotiate with China in the hopes that they do not again try to redo deal!

— Donald J. Trump (@realDonaldTrump) May 10, 2019

….If we bought 15 Billion Dollars of Agriculture from our Farmers, far more than China buys now, we would have more than 85 Billion Dollars left over for new Infrastructure, Healthcare, or anything else. China would greatly slow down, and we would automatically speed up!

— Donald J. Trump (@realDonaldTrump) May 10, 2019