Donald Trump to announce new tariffs on China

U.S. President Donald Trump plans to announce new tariffs of about $200 billion on Chinese imports as early as Monday, the Wall Street Journal reported on Saturday. The tariff level will likely be about 10%, below the 25% announced when the administration first said it was considering this round of tariffs, the newspaper said, quoting people familiar with the matter.

On Friday, White House spokeswoman Lindsay Walters said Mr. Trump “has been clear that he and his administration will continue to take action to address China’s unfair trade practices. We encourage China to address the long-standing concerns raised by the Unites States”.

Restarting trade talks

Mr. Trump had already directed aides to proceed with tariffs, despite Treasury Secretary Steven Mnuchin’s attempts to restart trade talks with China, a source familiar with the matter said on Friday. The Trump administration is demanding that China cut its $375 billion trade surplus with the U.S., end policies aimed at acquiring U.S. technologies and intellectual property and roll back high-tech industrial subsidies.

The $200 billion tariff list included various Internet technology products and other electronics, printed circuit boards, and consumer goods ranging from handbags to bicycles and furniture. Earlier this week, Treasury invited senior Chinese officials, including Vice Premier Liu He, for more talks to try to resolve trade differences.

The Trump administration has already levied duties on $50 billion worth of Chinese goods. Adding in the $200 billion list and another $267 billion of Chinese goods, imports from China facing tariffs would exceed the $505 billion in goods that the United States imported from China last year.

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Printable version | Apr 6, 2020 4:42:34 PM |

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