US President Donald Trump has announced that he will impose a $ 10% tariff on $300 billion of Chinese imports from September 1, increasing the trade war between the world's largest economies and financial market tensions, reported by Reuters.
Trump statement covers almost all goods imported from China and is the end of a temporary truce in trade war that could hit the world economy.
Trump also said may would raise tariffs if Chinese President, Xi Jinping, did not act quickly on a trade agreement.
Senior Chinese diplomat said: "Additional tariffs are definitely not a constructive way to resolve economic and trade fractions."
The news hit the US financial market and Asian stocks fell on Friday and the yen rose.