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Trump Threatens Even Higher Levies on Chinese Goods
President Donald Trump told reporters yesterday that he may hike tariffs on $300 billion worth of Chinese goods above 25% unless China President Xi Jinping meets with him at the end of June.
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President Donald Trump told reporters yesterday that he will hike tariffs on $300 billion worth of Chinese goods above 25% unless China President Xi Jinping meets with him at the end of June.
He later told news channel CNBC just such a meeting has been scheduled during the Group of 20 economic summit in Japan. “China is going to make a deal because they’re going to have to make a deal,” Trump declared.
The U.S. currently levies taxes of 25% on $250 billion worth of Chinese goods. Last month Trump raised the prospect of imposing 10%-25% tariffs on another $325 billion worth of imports from China if trade talks don’t produce results soon.
If yesterday’s threat materializes, U.S. tariffs on Chinese goods would reach at least 25% on $600 billion worth of goods—covering virtually everything China ships to the U.S.
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