Skip to main content
Latest news
Thumbnail

Trump Approves Plan To Impose Tough Tariffs On Chinese Goods

US President Donald Trump has approved a plan to impose tariffs on tens of billions of dollars of Chinese goods as early as Friday. 

Trump has long vowed to fulfill his campaign pledge to clamp down on what he considers unfair Chinese trading practices. 

But his calls for billions in tariffs could complicate his efforts to maintain China's support in his negotiations with North Korea.

Trump met Thursday with several Cabinet members and trade advisers and was expected to impose tariffs on at least $35 billion to $40 billion of Chinese imports, according to an industry official and an administration official familiar with the plans. 

The amount of goods could reach $55 billion, said the industry official. The officials spoke on condition of anonymity in order to discuss the matter ahead of a formal announcement.

If the US president presses forward as expected, it could set the stage for a series of trade actions against China and lead to retaliation from Beijing. 

Trump has already slapped tariffs on steel and aluminum imports from Canada, Mexico and European allies, and his proposed tariffs against China risk starting a trade war involving the world's two biggest economies.

The decision on the Chinese tariffs comes in the aftermath of US president’s summit with North Korean leader Kim Jong Un. 

Trump has coordinated closely with China on efforts to get Pyongyang to eliminate its nuclear arsenal. But he signaled that whatever the implications, "I have to do what I have to do" to address the trade imbalance.

Trump Approves Plan To Impose Tough Tariffs On Chinese Goods

The US president has long vowed to fulfill his campaign pledge to clamp down on what he considers unfair Chinese trading practices. 

Thumbnail

US President Donald Trump has approved a plan to impose tariffs on tens of billions of dollars of Chinese goods as early as Friday. 

Trump has long vowed to fulfill his campaign pledge to clamp down on what he considers unfair Chinese trading practices. 

But his calls for billions in tariffs could complicate his efforts to maintain China's support in his negotiations with North Korea.

Trump met Thursday with several Cabinet members and trade advisers and was expected to impose tariffs on at least $35 billion to $40 billion of Chinese imports, according to an industry official and an administration official familiar with the plans. 

The amount of goods could reach $55 billion, said the industry official. The officials spoke on condition of anonymity in order to discuss the matter ahead of a formal announcement.

If the US president presses forward as expected, it could set the stage for a series of trade actions against China and lead to retaliation from Beijing. 

Trump has already slapped tariffs on steel and aluminum imports from Canada, Mexico and European allies, and his proposed tariffs against China risk starting a trade war involving the world's two biggest economies.

The decision on the Chinese tariffs comes in the aftermath of US president’s summit with North Korean leader Kim Jong Un. 

Trump has coordinated closely with China on efforts to get Pyongyang to eliminate its nuclear arsenal. But he signaled that whatever the implications, "I have to do what I have to do" to address the trade imbalance.

Share this post