Trump to Issue $200B More Tariffs on China

Media Trump orders $200 bil. tariffs on China

Media Trump orders $200 bil. tariffs on China

President Donald Trump is going ahead with plans to impose new tariffs on about $200 billion of Chinese imports, The Wall Street Journal reported Saturday.

"We encourage China to address the long standing concerns raised by the United States".

The Chinese Foreign Ministry said on Thursday that it was invited to hold new talks.

A higher tariff of 25% is already in force on $50 billion worth of imports from China, and the period for public comments on a proposal to extend it to another $200 billion worth of goods ended recently.

On Thursday, China had welcomed a U.S. offer to hold fresh trade talks, providing some hope the world´s top two economies could step back from the brink of an all-out trade war.

But Trump has signaled that he thinks only the threat of real economic pain will push Beijing to make major changes.

Top trade officials from both China and the USA had been holding trade meetings in each Beijing and Washington, DC before those talks broke down.

Trump and his administration have made clear that the U.S.is looking for China to halt "unfair" trading practices, theft of US intellectual property, and a reduction in the USA trade deficit with China.

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The upcoming tariffs will be on a list of items that included $200 billion worth of internet technology products and other electronics, printed circuit boards and consumer goods including Chinese seafood, furniture and lighting products, tires, chemicals, plastics, bicycles and auto seats for babies.

A US team of Trump administration officials led by Treasury Secretary Steve Mnuchin still plans to hold meetings with a Chinese delegation led by Vice Premier Liu He September 27-28 in Washington, DC. Last week Trump told reporters such a move could come 'very soon'.

Trump had already directed aides to proceed with tariffs, despite Treasury Secretary Steven Mnuchin's attempts to restart trade talks with China.

China responded by imposing tariffs on US products like beef and soybeans, a response that spooked the USA agriculture industry and angered Trump and other White House officials.

"We have indeed received an invitation from the USA side".

And two weeks ago he said he is preparing a third package of penalties on what he said would be $267 billion in additional items, a list that likely encompasses all remaining goods produced in China.

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

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