Trump hikes tariffs on Chinese goods to 25%

President Trump announced Sunday that his administration would increase the tariffs on $200 billion worth of imported Chinese goods to 25%, up from 10%, and would place 25% tariffs on an additional $325 billion of goods.

The new policy, effective Friday, would effectively cover all goods imported from China. The announcement comes following weeks of effort by the administration to negotiate a trade deal with Beijing. Trump indicated that the hike was to put additional pressure on China.