The US is very successfully using tariffs or the threat of it to negotiate a fair-trade deal with other countries, President Donald Trump said on Monday. Trump on Monday threatened to impose new tariffs on additional USD 267 billion worth of imports from China and asserted that there will be no deal with Beijing unless it changes its unfair trade practices.

"We're using tariffs very successfully to negotiate, and if we're unable to make a fair deal, then we'll use tariffs," Trump told reporters at a White House news conference after he announced a major regional trade agreement with his two neighbours of Mexico and Canada.