Trump to announce $200B in new tariffs on Chinese goods

Cornelia Mascio
Settembre 16, 2018

Last week, the president tweeted: "We are under no pressure to make a deal with China, they are under pressure to make a deal with us".

The administration has already levied duties on $50 billion worth of Chinese goods following a study on China's intellectual property practices released earlier this year.

Trump met top aides earlier this week on the tariff issue and directed aides to proceed with plan.

. But the impact will still likely be felt by millions of American consumers, as it would apply to smartphones, computers, toys, televisions, and many other middle-class staples.

The White House did not immediately respond to a request for comment.

White House spokeswoman Lindsay Walters said: "The President 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". He has recently boasted that he believes China's economy is suffering because of his hard-charging style.

The president has said he wants to stop the "unfair transfers of American technology and intellectual property to China" and protect jobs. Treasury Secretary Steven Mnuchin was planning to restart talks with Chinese leaders soon, but they have vowed to retaliate to any escalation of the trade battle between the two countries with punitive steps of their own, and Trump's move could further push Beijing to retaliate.

The decision was first reported by the Wall Street Journal.

Earlier this year, the U.S. also started charging levies on the imports of steel and aluminium from the European Union, Mexico and Canada. This tactic has had mixed success. If imposed, those tariffs would bring the total imports from China subject to penalties to more than $500 billion.

Trump has also threatened another round of tariffs on $267 billion of Chinese goods. But the timing for activating the additional tariffs was unclear at that time. "Talks without action won't do the trick".

This year, imports from China through July were up almost 9 percent from the same period of 2017, according to U.S. Census Bureau data. The two leaders may see other at the United Nations General Assembly in NY later this month and are scheduled to meet on the sidelines of the G-20 summit in Buenos Aires in November.

Corporate executives increasingly believe the trade dispute can only be resolved by direct talks between Trump and Xi.

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