President Donald Trump’s Sunday threat to ramp up U.S. tariffs on Chinese goods sent markets roiling on Monday and prompted retail groups to condemn the trade war escalation.

The move would raise tariffs on $200 billion in Chinese imports to 25%, up from 10%, currently, and set a 25% tariff on $325 billion of currently untaxed goods, including many consumer products. The president’s warnings — which he conveyed in a series of tweets — were seen by some as a negotiating tactic in the ongoing trade talks with Beijing. A Chinese delegation is set to meet with the White House beginning Wednesday, and as recently as Friday, the Trump administration said the negotiations were progressing. Read More