Crude oil futures slumped in mid-afternoon trade Monday after US President Donald Trump threatened to raise tariffs from 10% to 25% this Friday. At 2:03 pm Singapore time (0603 GMT), the July ICE Brent crude futures plunged $1.62 cents/b (2.29%) from Friday’s settle at $69.23/b, while the NYMEX June light sweet crude contract fell $1.49/b (2.41%) at $60.45/b. Trump complained via Twitter that the trade deal talks were going “too slowly.” Chinese negotiators were scheduled to come to Washington this week for another round of negotiations. The 10% tariffs, imposed by the US under Section 301 of the 1974 Trade Protection Act “will go up to 25%” on Friday, Trump said. An additional $325 billion of Chinese goods imported into the US “remain untaxed, but will be shortly at a rate of 25%,” he said. […]