Trump's threat could lead to higher Apple iPhone prices in the states

U.S. and Chinese trade negotiation delegations at the Diaoyutai State Guesthouse in Beijing

"For 10 months, China has been paying Tariffs to the U.S. of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods", Trump tweeted. The president's tariffs, however, have been extremely useful in negotiating.

In the bilateral consultations, Washington and Beijing are trying to work out a mutually acceptable trade agreement that would put an end to an nearly year-long tariff war between the world's largest economies.

In the announcement on Twitter, Trump said that talks to secure a trade deal with China are continuing, but are moving "too slowly".

President Donald Trump said Sunday that the United States will increase tariffs on billions of dollars of Chinese goods beginning Friday.

Investors were taking risk off the table on concerns that Trump's threat would halt progress in talks between the world's biggest economies, especially since some recent gains in United States equities were due to optimism they would reach a deal.

Trump's acting chief of staff Mick Mulvaney and Treasury Secretary Steven Mnuchin last week began publicly ramping up pressure on China to reach a deal, warning it could still walk away from the months-long negotiations.

Donald Trump has dramatically increased pressure on China.

So far, the Chinese side in the talks has agreed for China to buy more USA products, mainly in the farm and energy sectors.

As a candidate for the presidency, Mr. Trump raged repeatedly about alleged Chinese perfidy - so much so that a video mashup of him spitting out the word "China" went viral and collected more than 15 million views on YouTube. But Trump and China's President Xi Jinping agreed in December to refrain from further escalation. Instead, U.S. officials would strike a deal that would prevent tariffs from going higher.

Both sides, representing the world's two biggest economies, have said progress is being made.

The Trump administration hiked tariffs on about half of its imports from China past year, while Beijing retaliated with tariffs on more than 70% of its imports from America, according to tracking by Chad Bown, a senior fellow at the Peterson Institute for International Economics. Meanwhile, the USA side promised not to escalate the tariffs.

Nonetheless, the overall US economy has remained healthy.

The prospect of higher tariffs and heightened tensions could alarm investors when markets open Monday. "Tariff man is back just in time to make the stock market dive, dive, dive".

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