Baku. 1 August. REPORT.AZ/ The Trump administration plans to propose slapping a 25-percent tariff on $200 billion of imported Chinese goods after initially setting them at 10 percent, in a bid to pressure Beijing into making trade concessions. Report informs, Bloomberg and Washington Post said referring to a source familiar with the plan said on Tuesday.
In early July, the U.S. government imposed 25-percent tariffs on an initial $34 billion of Chinese imports. Beijing retaliated with matching tariffs on the same amount of U.S. exports to China.
Washington is preparing to also impose tariffs on an extra $16 billion of goods in coming weeks, and Trump has warned he may ultimately put them on over half a billion dollars of goods — roughly the total amount of U.S. imports from China last year.
the conflict nominally centers around the U.S.’s $375 billion annual goods trade deficit with China, it has morphed into a chapter in the nations’ broader strategic rivalry. At the same time, the US president threatens to raise duties on all Chinese imports, exceeding $ 500 billion.