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Trump threatens more tariffs

President Trump has threatened to increase tariffs on $200 billion of Chinese goods.

In a tweet on Sunday, Trump says the 10 percent tariffs will go up to 25 percent on Friday.  

This new threat comes as U.S. and Chinese trade officials are expected to continue trade talks this week.

Trump says the trade deal with China continues but is progressing too slowly.  

Tariffs Hurt the Heartland, the national campaign of more than 150 trade organizations, says this sudden tariff hike would only punish U.S. farmers, businesses, and consumers. The groups also say that the 25 percent tariff increase could cost nearly 1 million American jobs.

Commodity and equity markets were mostly lower Monday in response to the tariff threat, with big losses in lean hog and soybean futures.

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