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White House considers pushing tariffs on Chinese goods to 25%

President Trump
President Trump at a meeting in the White House. Photo: Oliver Contreras-Pool/Getty Images

The White House is considering bumping up tariffs on $200 billion in Chinese goods from 10% to 25%, reports the Wall Street Journal.

Why it matters: This latest threat comes as Treasury Secretary Steven Mnuchin and Chinese President Xi Jinping's economic adviser are reportedly restarting talks to reach a trade deal. On Monday, President Trump described the initial 10% as weak and had officials increase it to 25%. The Chinese government responded to the threats early Wednesday saying it would retaliate if the president decides to impose the hike.