White House considers pushing tariffs on Chinese goods to 25%

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.