Trump to propose 25-percent tariff on $200 billion of Chinese imports: Source
US President Donald Trump plans to propose a 25-percent tariff on $200 billion of imported Chinese goods, after initially setting them at 10 percent, amid an escalating trade war between Washington and Beijing.
A source familiar with the plan said on Tuesday that the Trump administration seeks to pressure Beijing into making trade concessions.
The list includes food products, chemicals, steel and aluminum, as well as a wide range of other consumer goods.
Erin Ennis, senior vice president of the US China Business Council, said a 10-percent tariff on these products is already causing significant problems, and more than doubling that would be even much worse.
“Given the scope of the products covered, about half of all imports from China are facing tariffs, including consumer goods,” Ennis said. “The cost increases will be passed on to customers, so it will affect most Americans pocketbooks.”
Although the tariffs would not be imposed until after a period of public comment, raising the proposed level to 25 percent could intensify the trade dispute between the world’s two biggest economies.
According to the source, the Trump administration could announce the tougher proposal as early as Wednesday.
Trump has repeatedly defended his trade policies, saying they go in line with his America First motto.
In June, he officially announced 25 percent tariffs on $50 billion of Chinese imports, saying the new tariffs would be levied on a list of strategically important Chinese imports.
China, in return, announced its decision to impose further 25 percent tariffs on 659 American products worth $50 billion.
Trump has accused Beijing of intellectual property theft and barriers to entry for US businesses and a $375 billion US trade deficit with China.
China says Washington is "opening fire" on the world with its raft of tariffs aimed at Beijing as well as at trade partners in North America and Europe.
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