In an escalated trade war with China, US President Donald Trump plans to impose 10 percent tariffs on USD 200 billion worth of Chinese products on top of the additional tariffs imposed a few days earlier.

The move followed Beijing's decision to raise their own tariffs against American goods as a retaliatory move after the US imposed tariffs on USD 50 billion worth of Chinese goods.

Donald Trump, in a statement stated that further action must be taken to encourage China to reform its unfair trade practices and accept a more balanced trade relationship with the United States.

Trump warned that if China strikes back against the additional tariffs, further tariffs on $200 billion worth of Chinese products would be placed.