Trump likely to announce new China tariffs today

WASHINGTON: US President Donald Trump is likely to announce new tariffs on about US$200bil of Chinese imports as early as today, a senior administration official told Reuters on Saturday.

The tariff level will probably be about 10%, the Wall Street Journal reported, quoting a source. This is below the 25% the administration said it was considering for this possible round of tariffs.

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

The upcoming tariffs will be on a list of items that included US$200bil worth of Internet technology products and other electronics, printed circuit boards and consumer goods including Chinese seafood, furniture and lighting products, tyres, chemicals, plastics, bicycles and car seats for babies.

It was unclear if the administration will exempt any of the products that were on the list, which was announced in July.

On Friday, White House spokeswoman Lindsay Walters said Trump “has been clear that he and his administration will continue to take action to address China’s unfair trade practices. We encourage China to address the long-standing concerns raised by the Unites States.” Trump had already directed aides to proceed with tariffs, despite Treasury Secretary Steven Mnuchin’s attempts to restart trade talks with China.

One observer in the business sector said the administration may have reduced its planned tariff level after hearing public comments, hoping companies would not immediately hike prices for consumer goods to pass along the costs. Still, the additional tariffs could complicate trade talks with China expected later this month.

Trump’s administration has already levied duties on US$50bil worth of Chinese goods following a study.