U.S. considering higher tariffs on US$ 200 bil. of Chinese goods
- 6 years ago
The latest on the on-going trade war bewteen Washington and Beijing... the Trump administration says it's considering raising its proposed tariffs on 200 billion dollars of Chinese goods... to 25 percent.
Kim Hyesung reports.
The Trump administration says it’s looking into whether to increase the proposed tariff on 200 billion U.S. dollar worth of Chinese imports from 10 percent to 25 percent.
U.S. Trade Representative Robert Lighthizer said Wednesday local time that the increase in duties was ordered by President Trump and could be implemented as early as next month.
In a statement, Lighthizer said the proposed higher tariff is intended to provide the administration with additional options to encourage Beijing to change its trade practices.
The move to more than double the proposed tariff may inflame already heightened tensions between the world’s two largest economies.
"China's position is very firm and clear and has not changed. The U.S. threat and pressure will not work. And if the U.S. side takes further steps to escalate the tension, China will definitely take countermeasures."
Last month, Washington and Beijing imposed a first round of 25 percent tariffs on 34 billion dollars worth of each other's goods.
The U.S. has said a second round on 16 billion dollars in Chinese imports could be implemented soon.
As tensions escalate, the dynamics are changing.
President Trump and the European Commission President Jean-Claude Juncker agreed last week to put their tariffs on hold while the two sides negotiate, including on the dispute over steel tariffs, which gives the U.S. more leverage to pressure China.
There are also reports that representatives of U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are having private conversations as they too look to reengage in negotiations.
Kim Hyesung, Arirang News.
Kim Hyesung reports.
The Trump administration says it’s looking into whether to increase the proposed tariff on 200 billion U.S. dollar worth of Chinese imports from 10 percent to 25 percent.
U.S. Trade Representative Robert Lighthizer said Wednesday local time that the increase in duties was ordered by President Trump and could be implemented as early as next month.
In a statement, Lighthizer said the proposed higher tariff is intended to provide the administration with additional options to encourage Beijing to change its trade practices.
The move to more than double the proposed tariff may inflame already heightened tensions between the world’s two largest economies.
"China's position is very firm and clear and has not changed. The U.S. threat and pressure will not work. And if the U.S. side takes further steps to escalate the tension, China will definitely take countermeasures."
Last month, Washington and Beijing imposed a first round of 25 percent tariffs on 34 billion dollars worth of each other's goods.
The U.S. has said a second round on 16 billion dollars in Chinese imports could be implemented soon.
As tensions escalate, the dynamics are changing.
President Trump and the European Commission President Jean-Claude Juncker agreed last week to put their tariffs on hold while the two sides negotiate, including on the dispute over steel tariffs, which gives the U.S. more leverage to pressure China.
There are also reports that representatives of U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are having private conversations as they too look to reengage in negotiations.
Kim Hyesung, Arirang News.