US Hikes Tariffs On Chinese Imports To 25%, Trump Says 'No Need To Rush' On Talks

Additional tariffs on U.S. imports of Chinese goods worth $200 billion came into effect at 12:01 a.m. ET Friday, as was announced by President Donald Trump a few days earlier. Trump also tweeted early morning that he was in no rush to conclude the trade negotiations with China, after having said Thursday that the country had "broken the deal."

Reacting to the raising of tariffs on Chinese goods from 10 percent to 25 percent, China in a swift reply warned that it would take “necessary countermeasures.”

“We hope the United States will meet us halfway, and work with us to resolve existing issues through cooperation and consultation,” the statement from China's Ministry of Commerce said.

A Chinese delegation led by the Vice Premier Liu He arrived in Washington on Thursday for a new round of discussions on the trade dispute. Washington has confirmed the trade talks will continue despite the flare-up in the trade war.

Striking a cordial note, Liu said he “hopes to engage in rational and candid exchanges with the U.S. side. However, Liu said hiking tariffs is not a solution to the problem.

But Trump in a series of tweets Friday morning said "there is absolutely no need to rush (on the talks) -- as tariffs are now being paid to the United States by China... "

He ended the tweetstorm with a one-liner: "Build your products in the United States and there are no tariffs!"

On Wednesday, speaking at a rally in Florida, President Trump blamed China for the deadlock in trade talks and said the tariff hikes from the U.S were forced by China which “broke the deal” by reneging on previous commitments.

Trump also said the paperwork on 25 percent duties on another $325 billion of Chinese imports is underway.

Chinese stocks up despite tariff hike

Meanwhile, stocks in China rallied Friday despite the U.S. hiking tariffs on Chinese goods at midnight.

Mainland Chinese stocks soared. The Shanghai Composite soared 3.1 percent and the Shenzhen component jumped 4.03 percent. The Shenzhen composite was at a high by 3.83 percent.

(This article was updated to include President Trump's tweets Friday morning.)