The US in early July hit $34 billion of Chinese goods with an extra 25% tariff; China responded in kind. CNN reports round two could see the US slap tariffs on another $16 billion in goods as soon as this week, but it's a much bigger figure that's attracting attention Wednesday. Bloomberg cites sources who say the White House is thinking about upping the ante and imposing not an additional 10% tariff on $200 billion worth of Chinese goods but an additional 25%. CNN echoes that news via its source.
Bloomberg frames the move, which would be revealed in the next couple of weeks, as intended to "force officials back to the negotiating table through threats of even higher tariffs"; the last high-level negotiations took place nearly two months ago. A Chinese foreign ministry rep responded to the news thusly, per the AP: "If the United States takes further measures that escalate the situation, China will definitely fight back. We are determined to safeguard our legitimate and lawful rights and interests." (Read more tariffs stories.)