World News: 02:55 GMT Monday 6th May 2019. [Yahoo Business News Feed via SPi World News]
President Donald Trump dramatically increased pressure on China to reach a trade deal on Sunday by saying he would hike U.S. tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon. The move marked a major escalation in trade tensions between the world's two largest economies and a shift in tone from Trump, who had cited progress in talks as recently as Friday. The Wall Street Journal reported on Sunday night that China was considering canceling this week's trade talks in Washington in light of Trump's comments that took Chinese officials by surprise.
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