President Trump Wants $267-B More in China Tariffs Despite Talks
$AAPL, $WMT, $TGT
President Trump threatened a 3rd tranche of tariffs on another $267-B of Chinese imports this past week, which would mean levying duties on nearly everything China exports to the US. President Trump said at the time those tariffs were “ready to go on short notice,” but the administration has not yet published a list for public comment.
It has become tricky to find additional products for duties that will not more obviously impact American consumers, according to officials. There was no decision made during Thursday’s meeting regarding when to issue the $267-M round.
Apple (NASDAQ:AAPL) said last week the $200-B round of tariffs that is set to go into effect as early as Monday, could hit some of its most popular goods such as the Apple Watch and AirPods headphones.
Retailers such as WalMart Inc. (NYSE:WMT) and Target Corp.(NYSE:TGT) risk being swept up in an escalating trade war if further tariffs hit a broad range of consumer goods, from TVs to sneakers.
T he public comment period for a list of tariffs on about $200-B in Chinese goods closed last week, and Trump said the duties would be imposed “soon.” The new round would be in addition to $50-B in Chinese goods that already face a 25 percent duty.
The White House has sought to pressure Beijing to reduce its trade surplus with America and protect intellectual property rights of US companies, which it says are being abused in China.
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