Trump 'Likely' To Announce New China Tariffs As Early As Monday

Clay Curtis
September 18, 2018

President Donald Trump, fed up with a USA trade deficit with China that reached a record $376 billion past year, has instructed aides to move forward with 25 percent tariffs on $200 billion worth of imported Chinese goods, Bloomberg News reported Friday. Beijing has issued a list of $US60 billion of American products for retaliation if Trump's next tariff hike goes ahead.

With the public comment period for the new round of tariffs expiring last week, President Trump said the duties will be imposed soon.

But the tariffs on $200 billion of Chinese products listed by the Office of the U.S. Trade Representative would apply to a wide array of consumer goods imported from China, including baseball gloves, tires, handbags, plywood, carpet, oil filters, drawing paper, fabrics and shoelaces, to name a few.

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 will remind, the discontent of the trump causes the trade imbalance between States which, by estimations of Washington, is $ 500 billion in China's favor.

A White House spokesman didn't immediately respond to a request for comment on Saturday afternoon.

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American President Donald Trump accused China of the theft of intellectual property and repeatedly stressed that he doesn't like the deficit in trade with Beijing.

Trump has also threatened another round of tariffs on $267 billion of Chinese goods.

The $200 billion tariff list included various internet technology products and other electronics, printed circuit boards, and consumer goods ranging from handbags to bicycles and furniture.

Trump had already directed aides to proceed with tariffs, despite Treasury Secretary Steven Mnuchin's attempts to restart trade talks with China, a source familiar with the matter told Reuters on Friday.

"For the near term, this combination of tactics seems to signal that unless and until China comes to the table with significant actions on the issues the hammering, the US will keep tariff pressure going", said Claire Reade, a former USA trade negotiator. On the other hand, China chided the USA for indulging in "trade bullying". Disclosure on Wednesday that the USA sought to renew the talks rallied US stocks and emerging-market assets.

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

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