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Trade war

Trump vows to hike China tariffs Friday as trade talks resume

Beijing says it still plans to send a delegation to the US despite twitter threats

WASHINGTON/NEW YORK -- U.S. President Donald Trump has threatened to dramatically increase tariffs on Chinese imports just as the two sides are set to resume trade talks this week. The surprise warning drew a muted response from Beijing, however, with China's foreign ministry saying only that it still plans to send a delegation to Washington.

Trump said on Sunday that the U.S. will raise the tariffs on $200 billion worth of Chinese goods to 25% from the current rate of 10% on Friday, signaling frustration over the lack of progress in the bilateral trade talks.

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