US President Donald Trump warned that he is ready to impose tariffs on almost all Chinese imports into the United States. Mr. Trump threatened duties on another $267 billion of goods, adding to the already $200 billion tariffs imposed in imports.
This could worsen the trade war between US and China, as the US President asked for big changes in economic, trade and technology policy, Reuters reported.
As for now, there is no reaction to Trump’s comments from China, while the threat for more tariffs has not been confirmed.
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Earlier in August, The US Office of the United States Trade Representative (USTR) released a list of about $16 billion worth of imports from China that will be subject to a 25% additional tariff. This is a response to China’s retaliatory tariffs on $60 billion worth of US goods.
This second set of additional tariffs under Section 301 follows the first set of tariffs on approximately $34 billion of imports from China, which came into effect on July 6.
The list contains 279 of the original 284 tariff lines that were on a proposed list announced on June 15. Changes to the proposed list were made after USTR received written comments and testimony during a two-day public hearing last month.
Customs and Border Protection began collecting the additional duties on the Chinese imports by August 23.
China has imposed retaliatory tariffs on $60 billion worth of US goods. The products range from LNG to some aircraft and warned that it may impose more measures, indicating that it won’t step back in the trade war with the US. The tariffs range from 5 to 25%.
In a testimony on August 24, before the US Trade Representative (USTR) in Washington, the American Association of Port Authorities (AAPA) urged the federal government to consider the negative impacts that retaliatory tariffs would have on port and other trade-related American jobs nationwide.
