U.S. prepares to impose a new round of trade tariffs on China

Hugh Fox
September 18, 2018

The tariffs come as a number of top White House advisers have been trying to de-escalate tensions between Trump and Chinese leader Xi Jinping. China responded with equivalent duties on USA goods.

The decision comes one week after Donald Trump said he would be adding tariffs on Dollars 200 billion in Chinese goods. The new round would be in addition to $50 billion in Chinese goods that already face a 25 percent duty.

Some of them have criticised Trump's tactics but many echo USA complaints about Chinese market barriers and industrial strategy.

The President of the USA Donald trump Monday, September 17, may announce the imposition of new duties on imported Chinese goods. We will soon be taking in Billions in Tariffs & making products at home.

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US President Donald Trump has chose to impose tariffs on $200 billion in Chinese imports and could make the announcement in the coming days, US media reported on Saturday.

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Trump asked for additional tariffs on Thursday during a meeting with senior trade and commerce officials, including treasury secretary Steven Mnuchin, who invited the Chinese earlier this week to resume talks that had been inconclusive. Mr Mnuchin has led a recent overture to the Chinese to restart trade talks.

"The President has been clear that he and his administration will continue to take action to address China's unfair trade practices", the White House said in a statement Friday.

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Trump has hinted at another tranche of tariffs of $267 billion. But 2018 imports from China through July were up almost 9 percent over the same period of 2017, according to U.S. Census Bureau data.

"The [US] administration views tariffs as a way of getting the attention of the Chinese leadership and increasing their leverage at the negotiating table", Michael Froman, former US trade representative told the BBC. He has warned of additional waves of tariffs on up to $500 billion in Chinese goods.

Trump said, "there's another $267 billion ready to go on short notice if I want".

USA companies that have supply chains running through China or that conduct a significant part of their operations there face "dual headwinds" from trade tensions, said Hannah Anderson, global market strategist at J.P. Morgan Asset Management. The two leaders may see each other at the United Nations General Assembly in NY this month and are scheduled to meet on the sidelines of the Group of 20 summit in Buenos Aires in November.

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