Trump warns China of an additional $300 billion in tariffs

President TrumpDonald John TrumpJimmy Carter: 'I hope there's an age limit' on presidency White House fires DHS general counsel: report Trump to cap California trip with visit to the border MORE on Thursday threatened to hit China with tariffs on “at least” another $300 billion worth of Chinese goods, escalating tensions between the world's two largest economies.

“Our talks with China — a lot of interesting things are happening. We'll see what happens,” Trump told reporters in Ireland before departing for a ceremony marking the 75th anniversary of D-Day in Normandy, France.

“In the meantime, we're getting 25 percent on $250 billion, and I can go up another at least $300 billion," he added. "And I'll do that at the right time.”

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There have been no face-to-face meetings between U.S. and Chinese officials since May 10, the day Trump initially increased tariffs on a $200 billion list of Chinese goods, Reuters reported. Beijing retaliated by raising tariffs on $60 billion of U.S. goods.

“But I think China wants to make a deal and I think Mexico wants to make a deal badly,” Trump claimed on Thursday.

The president earlier the week defended his administration’s tariffs, arguing that the United States won’t be impacted by a “visible increase in costs or inflation.”

“China is subsidizing its product in order that it can continue to be sold in the USA,” Trump wrote in a tweet.

China’s Commerce Ministry, however, warned Trump not to increase already-simmering relations.

“If the United States willfully decides to escalate tensions, we’ll fight to the end,” ministry spokesman Gao Feng said at a news briefing, according to Reuters.

“China does not want to fight a trade war, but also is not afraid of one. If the United States willfully decides to escalate trade tensions, we’ll adopt necessary countermeasures and resolutely safeguard the interests of China and its people.”

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