Trump threatens to hike tariffs on Chinese goods

The U.S. President Donald Trump pledged on Friday to hike rates for Chinese goods even higher. Trump said the U.S. will raise tariffs to 30 percent from 25 percent on products worth $250 billion, already taxed starting from October 1. Trump also threatened to increase promised tariffs on the remaining $300 billion of Chinese goods to 15 percent from 10 percent.

"We don't need China and, frankly, would be far better off without them," Trump tweeted. His message came after China imposed tariffs on the U.S. goods worth about $75 billion.