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Report: Trump Eager to Announce $200 Billion in China Tariffs
President Donald Trump is likely next week to approve 10%-25% tariffs on $200 billion worth of Chinese goods, multiple sources tell Bloomberg News.
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President Donald Trump is likely next week to approve 10%-25% tariffs on $200 billion worth of Chinese goods, multiple sources tell Bloomberg News.
Companies and the general public still have seven days in which to comment on the plan. But Bloomberg says Trump’s mind is made up and he is eager to announce the taxes. China has said it will counter with $60 billion in tariffs on American-made goods.
The U.S. and China currently are imposing 25% tariffs on $60 billion worth of each other’s goods. Bloomberg’s sources say Trump may announce but not immediately activate the new taxes in hopes that China will resume negotiations over key U.S. trade demands.
In the meantime, Trump has suspended the talks, citing a lack of progress. He also has accused China of failing to support his efforts to negotiate a denuclearization deal with North Korea.
The Trump administration wants China to lower imports tariffs and stop forcing foreign companies to surrender intellectual property in exchange for access to its market.
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