Trump to decide on extra $300bn of China tariffs in two weeks

US President Donald Trump threatened China with an extra $300bn tariffs on Chinese imports on Thursday and that a decision might come in the "next two weeks", but added that he believes China wants a trade deal.

However, Trump also told reporters that he was “probably planning it some time after” the G-20 leaders' meeting scheduled for 28-29 June, in Japan.

Tensions with Beijing were already running high after the US decided on 10 May to increase tariffs on $200bn-worth of Chinese goods from 10% to 25% triggering an immediate retaliation from Beijing.

“Our talks with China, a lot of interesting things are happening. We’ll see what happens [...] I could go up another at least $300 billion and I’ll do that at the right time,” Trump told reporters, without specifying which goods could be impacted.

“But I think China wants to make a deal and I think Mexico wants to make a deal badly,” said Trump before boarding Air Force One at the Irish airport of Shannon.

The Chinese Commerce Ministry's Gao Feng responded: “If the United States wilfully decides to escalate tensions, we’ll fight to the end.

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

“Since the new U.S. administration took office, it has disregarded the mutually beneficial and win-win nature of China-US economic and trade cooperation, and has advocated the theory that the United States has ‘lost out’ to China on trade.”

Separately, in a newly issued research report, the ministry said that: "Since the new U.S. administration took office, it has disregarded the mutually beneficial and win-win nature of China-U.S. economic and trade cooperation, and has advocated the theory that the United States has ‘lost out’ to China on trade."