President Trump has announced a new round of tariffs on Chinese goods, escalating the ongoing trade war between the two economic powerhouses. The tariffs, which will affect approximately $200 billion worth of imports, will see rates increase to 25% from the previous 10%. This move comes as a surprise to many, as negotiations between the US and China seemed to be progressing positively in recent weeks.

The decision has sparked concern among US businesses and consumers, who fear the potential impact on prices and the economy as a whole. Many have criticized the President for his unwavering stance on tariffs, arguing that they are ultimately harmful to the American people. The tariffs could also have negative repercussions on the global economy, particularly as tensions continue to rise between the US and other major trading partners.

Despite growing backlash, President Trump remains firm in his belief that tariffs are necessary in order to rectify what he perceives as unfair trade practices. The 25% tariffs are expected to go into effect on Friday, adding further uncertainty to an already volatile economic climate.