US President Donald Trump on Friday announced to raise existing and planned tariffs on Chinese products in retaliation for Beijing’s announcement earlier in the day of new duties on American goods.

“Starting on October 1, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25 per cent, will be taxed at 30 per cent,” Trump said in a statement to the White House press corp.

In his statement, which was mainly against China, Trump also issued a warning to other countries as well.“For many years China has been taking advantage of the United States on Trade, Intellectual Property Theft, and much more,” he said.

“Our Country has been losing HUNDREDS OF BILLIONS OF DOLLARS a year to China, with no end in sight. Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer,” Trump said.

“Additionally, the remaining 300 BILLION DOLLARS of goods and products from China, that was being taxed from September 1 at 10 per cent, will now be taxed at 15 per cent. Thank you for your attention to this matter,” said the US President in his unusual statement, portions of which were in capital letters.

“As President, I can no longer allow this to happen! In the spirit of achieving Fair Trade, we must Balance this very unfair Trading Relationship. China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated),” he said.