Washington, Sep 18 (IANS) US President Donald Trump has escalated his trade war with China, saying his administration would impose tariffs on $200 billion worth of goods and was also prepared to tax all imports.

Trump, in a statement released late Monday, showed no sign of backing down from the type of full-blown trade war between the world's two largest economies that has rattled financial markets, saying he was prepared to "immediately" place tariffs on another $267 billion worth of imports "if China takes retaliatory action against our farmers or other industries", The New York Times reported. The tariffs on $200 billion worth of products come on top of the $50 billion worth already taxed earlier this year, meaning nearly half of all Chinese imports into the US will soon face levies.