April 9, 2018 12:13 AM NPT
President Trump has said that the United States will consider slapping tariffs on an additional $100 billion in Chinese goods, escalating a potentially damaging trade dispute with Beijing that began on January 22.
If implemented, the further tariffs would triple the $50 billion placed on goods imported from China that Trump announced on Tuesday. “In light of China’s unfair retaliation, I have instructed the [United States Trade Representative] to consider whether $100 billion of additional tariffs would be appropriate,” Trump said in a statement released by the White House on Thursday night.
Trump’s current list of goods that will be affected by the tariffs ranges across 1,300 categories, while China is only targeting 106 classes of U.S. exports. The Chinese duties include soybeans, aircraft and motor vehicles -- In 2017 these accounted for more than
$40 billion (31 percent) of America’s $130.4 billion exports to China.