President Trump Going to Impose New China Tariffs
Sunday we learned that US President Trump is going ahead with plans to impose new tariffs on about $200-B of Chinese imports.
Both sides were preparing to hold new talks on their tariff dispute. Last week President Trump told reporters such a move could come “very soon.” And that there are more tariffs in the works
The tariff mark will likely be set at about 10%, below the 25% announced earlier this year.
White House spokeswoman Lindsay Walters declined comment on the timing of a possible announcement, but 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 United States.”
The Chinese foreign ministry said Thursday that it was invited to hold new talks. Envoys from the 2 countries last met on 22 August in Washington but reported no progress.
Beijing has rejected pressure from the United States to roll back plans for state-led development of Chinese global champions in robotics, AI (artificial intelligence) and other fields.
Washington, Europe and other trading partners say those plans violate China’s market-opening commitments. American officials also worry they could erode US industrial leadership.
Forecasters have warned that the worsening conflict between the world’s 2 biggest traders could cut up to 0.5% off global economic growth through Y 2020 if all threatened tariff hikes go ahead.
China has tried without success to recruit Germany, France, SKorea and other governments as allies against Washington. Some of them have criticized President Trump’s tactics, but many echo US complaints about Chinese market barriers and industrial strategy.
The WS-J cited unnamed people familiar with the matter who said the tariff mark will likely be set at about 10% below the 25% announced by The Trump Administration earlier this year