Donald Trump in no hurry to sign deal with China as trade war escalates

US tariff increase on Chinese goods takes effect as officials of both countries start second day of talks.

U.S. President Donald Trump on Friday said he was in no hurry to sign a trade deal with China as Washington imposed a new set of tariffs on Chinese goods and negotiators began a second day of last-ditch talks to try to salvage an agreement.

The United States early on Friday increased its tariffs on $200 billion in Chinese goods to 25% from 10%, rattling financial markets already worried the 10-month trade war between the world's two largest economies could spiral out of control.

The move, which is expected to lead to Chinese retaliation, went into effect just hours before