Trump threatens to impose tariffs worth $100 billion on China

After China said it would impose retaliatory tariffs on US goods, President Trump hit back at Xi's regime warning another round of tough tariffs of upto $100 billion on Beijing.

China had recently announced it would impose heavy tariffs of upto 25 per cent on US-made soybeans, cars and small airplanes as the trade war between the two economic giants began to take a turn for the worse.

"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers," Trump said.

A defiant China went a step further and informed the World Trade Organization(WTO) on its latest move.

"In light of China's unfair retaliation," Trump said he had instructed trade officials to "consider whether $100 billion of additional tariffs would be appropriate."

Earlier, in a bid to cool nerves Trump had said "we are not in a trade war with China" while justifying his move but continued to accuse the regime of "intellectual property theft" and fueling a "trade deficit of $500 billion a year."

The start date of Chinese tariffs on US goods is still unknown.