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“The United States has been losing, for many years, 600 to 800 Billion Dollars a year on Trade. With China, we lose 500 Billion Dollars. Sorry, we’re not going to be doing that anymore!” US President Donald Trump tweeted out in the last minutes.

On Sunday, Trump said that they will ramp up the tariff rate on Chinese imports to 25% from 10% on Friday. “Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” Trump added.