Published: Tue, September 18, 2018
Worldwide | By Gretchen Simon

Trump 'likely' to announce new China tariffs as early as Monday

Trump 'likely' to announce new China tariffs as early as Monday

US President Donald Trump is urging his administration to move ahead with slapping tariffs on $200 billion of Chinese goods, according to an official.

This week, the USA invited China to hold talks on the tariff dispute.

Trump last week told reporters such a move could come "very soon".

The reported green light for the tariffs had an immediate effect on financial markets.

More than 60 percent of USA companies polled said the US tariffs were already affecting their business operations, while a similar percentage said Chinese duties on US goods were having an impact on business.

Trump has ordered aides to set the tariffs on these products at 10 percent across a range of consumer products, likely leading to higher prices for American consumers.

US President Donald Trump waves during joint statements with China's President Xi Jinping at the Great Hall of the People in Beijing, China, November 9, 2017.

A public comment period ended last week for the $200 billion tariff list, which included various internet technology products and other electronics, printed circuit boards, and consumer goods ranging from handbags to bicycles and furniture.

Chinese and US officials end trade talks in Washington without major breakthrough; FBN's Susan Li reports.

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Trump threatened a third tranche of tariffs on another $267 billion of Chinese imports on September 7, which would mean levying duties on almost everything China exports to the United States Trump said at the time those tariffs were "ready to go on short notice", but the administration hasn't yet published a list for public comment.

"We encourage China to address the long standing concerns raised by the USA". "The escalation of trade conflicts doesn't benefit either side's interests", Chinese commerce ministry spokesman Gao Feng said in Beijing on Thursday.

China, which has accused the U.S. of trade bullying, has matched the tariffs dollar for dollar.

The White House did not immediately respond to a request for comment.

Mr Kudlow told Fox Business News on Wednesday that US Treasury Secretary Steven Mnuchin "has apparently issued an invitation".

The timing and location of the proposed meeting were unclear, the sources familiar with the matter said.

Overall, the survey found more than 60 percent of respondents are affected by the USA and Chinese tariffs, and significantly more expect negative impact from the proposed second round of duties.

Depending on how the talks go, Liu may then speak with Trump. More recently lower level trade officials from each country have met in Washington, DC with little news of any progress.

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