The Trump administration has threatened to increase the rate of its tariffs against China from 10 percent to 25 percent.
U.S. Commerce Secretary Wilbur Ross discusses why President Trump needs to impose more tariffs on Chinese goods.
We were particularly heartened that Trump and the Europeans now have a handshake agreement to aim for zero tariffs on both sides of the Atlantic.
The U.S. Trade Representative's office initially had set a deadline for final public comments on the 10 percent proposed tariffs to be filed by August 30, with public hearings scheduled for August 20-23.
Trump has ultimately threatened tariffs on over $500 billion in Chinese goods, covering virtually all USA imports from China.
President Trump is ratcheting up trade tensions with China, threatening to increase proposed tariffs on Chinese imports from 10 percent to 25 percent.
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The list, unveiled on 10 July, hits American consumers harder than previous rounds, with targeted goods ranging from Chinese tilapia fish and dog food to furniture, lighting products, printed circuit boards and building materials. The U.S. threat and pressure will not work.
While the tariffs would not be imposed until after a period of public comment, raising the proposed level to 25 per cent could escalate the trade dispute between the world's two biggest economies.
Before Trump's proposal was made public, the Chinese government claimed on Wednesday that United States "blackmail" and pressure on its exports are "not going to work". But Chinese Foreign Ministry spokesman Geng Shuang reiterated at a regular news briefing that the United States' efforts at "blackmail" would fail.
Investors fear an escalating trade war between Washington and Beijing could hit global growth, and prominent U.S. business groups have condemned Trump's aggressive tariffs.
The US imposed 25 per cent tariffs on $US34 billion of Chinese products in early July, and the review period on another $US16 billion of imports ends on Wednesday. But she was slightly more guarded with her financial paper trail, tightly intertwined with Republican operative and reputed lover Paul Erickson, BuzzFeed News reported Tuesday evening.
The move signals displeasure among Trump's own party over his protectionist actions, but chances of it becoming law are slim as Congress would likely need to override a presidential veto by Trump.