KEY POINTS
  • President Donald Trump's administration is looking to impose fresh tariffs on products from the world's second largest economy.
  • Beijing, on Friday, announced a 25 percent tariff on $34 billion of U.S. goods after Washington slapped a 25 percent tariff on up to $50 billion of Chinese products.
  • The latest developments are "quite concerning," warned Max Baucus, former U.S. ambassador to China.

President Donald Trump has requested the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent.

The new duties will go into effect "if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced," the president said in a statement provided by the White House late on Monday.