WORLD Trump to roll out tariffs on China

US PRESIDENT Donald Trump has approved a plan to impose punishing tariffs on tens of billions of dollars of Chinese goods immediately, a move that could put his trade policies on a collision course with his push to rid the Korean Peninsula of nuclear weapons.

Mr Trump has long vowed to fulfil 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.

Mr Trump ( pictured) yesterday met 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 value 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 President presses forward as expected, it could set the stage for a series of trade actions against China and lead to retaliation from Beijing.

Mr Trump has already slapped tariffs on steel and aluminium 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 Chi- nese tariffs comes in the aftermath of Mr Trump’s summit with North Korean leader Kim Jong- un. The President has coordinated closely with China on efforts to get Pyongyang to eliminate its nuclear arsenal. But he signalled that whatever the implications, “I have to do what I have to do” to address the trade imbalance.

Mr Trump, in his press conference in Singapore on Tuesday, said the US had a “tremendous deficit in trade with China and we have to do something about it. We can’t continue to let that happen.” The US trade deficit with China was $ 336 billion in 2017.

Administration officials have signalled support for imposing the tariffs in a dispute over allegations that Beijing steals or pressures foreign companies to hand over technology, according to officials briefed on the plans.

China has targeted $ 50 billion in US products for potential retaliation.

The Trump administration is also working on proposed Chinese investment restrictions by June 30.