Published: Tue, September 18, 2018
Global Media | By Derrick Guzman

Report Trump going ahead with plans for new China tariffs

Report Trump going ahead with plans for new China tariffs

As a result of such business pressures, roughly half of respondents in the automotive industry said they are looking to source components or assembly outside of China and the us, the survey said.

The Trump administration has already imposed 25 per cent tariffs on $50 billion worth of Chinese goods. In many cases, though, it's not as simple as opening a new factory. The iPhone maker recently warned that new tariffs could increase the cost of its products.

However, the timing of an announcement remains unclear, CNN quoted spokeswoman Lindsay Walters as saying on Friday. It has also threatened Washington to impose another round of tariffs amounting to United States dollars 60 billion of USA products.

Earlier this year, the USA also started charging levies on the imports of steel and aluminium from the European Union, Mexico and Canada.

A Treasury spokesman did not immediately respond to a query on the status of the China talks invitation.

Trump's top economic adviser, Larry Kudlow told Fox News on Wednesday that the U.S. government had received information that "the top of the Chinese government wished to pursue talks" prompting Mnuchin to send an invitation. The list of products mostly included industrial equipment to avoid directly hurting USA consumers.

Trump has come under mounting pressure at home from sectors impacted by the tariff war, including soybean farmers in the American mid-west who have been among his staunchest supporters.

The White House has not commented on the Bloomberg report. The new round would be in addition to $50 billion in Chinese goods that already face a 25 percent duty. Trump responded this summer by ordering his advisers to come up with a list of $200 billion in other Chinese products to penalize, a package of products that includes many consumer products.

"We encourage China to address the long standing concerns raised by the Unites States". Beijing has issued a list of another $60 billion of American products for retaliation if Trump's next tariff hike goes ahead.

US President Donald Trump plans to announce new tariffs of about $200 billion on Chinese imports as early as Monday, the Wall Street Journal reported on Saturday. "Talks without action won't do the trick".

China, which has accused the United States of trade bullying, has matched the tariffs dollar for dollar.

Details on the potential trade talks were thin, but Larry Kudlow, White House economic advisor, said the prospect of talks was a positive development.

Efforts to end the trade dispute have fizzled so far. The two leaders may see other at the United Nations General Assembly in NY later this month and are scheduled to meet on the sidelines of the G-20 summit in Buenos Aires in November.

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