Trump poised to announce raft of new tariffs on China
US PRESIDENT SAYS HE HAS ANOTHER $267B WORTH OF CHINESE IMPORTS HE CAN TARGET
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US President Donald Trump is likely to announce new tariffs on about $200 billion (Dh735 billion) on Chinese imports as early as today, a senior administration official said on Saturday.
The tariff level will probably be about 10 per cent, the Wall Street Journal reported, quoting people familiar with the matter. This is below the 25 per cent 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 $200 billion worth of internet technology products and other electronics, printed circuit boards and consumer goods including Chinese seafood, furniture and lighting products, tires, 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.”
Could complicate talks
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year-to-date decline on the Dubai Financial Market General Index yesterday
I would like to invite the businessmen from the UAE and the Gulf region to come and visit Pakistan [to] have a look [and] study what our plans are. We can provide them with one-window operation and we can facilitate them in every manner we can.” Imran Esmail |
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.