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Trump Threatens to Hike Tariffs on Chinese Goods
President Donald Trump, who a week ago was bullish on a trade deal with China by mid-May, now says he will hike tariffs on $200 billion worth of China on Friday because the talks are moving too slowly.
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President Donald Trump, who a week ago was bullish on a trade deal with China by mid-May, now says he will hike tariffs on $200 billion worth of China on Friday because the talks are moving too slowly.
The U.S. began levying tariffs on Chinese goods last July. The current rates are 25% on certain high-tech Chinese products and 10% on $200 billion worth of other exports from China.
Trump’s threat would raise tariffs on the latter group of goods to 25%. The administration originally intended to do that in January. But it agreed in December to postpone the increase when China and the U.S. pledged to resume trade talks.
Reports say the White House is becoming frustrated by China’s move to renegotiate some commitments made earlier in the bargaining process. BBC News says the two sides also are stuck on how to enforce a trade deal and when—or if—existing protective tariffs would be lifted after agreement is reached.
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