US mulls increasing tariffs on $200Bln Chinese goods by 15% - Reports
August 1, 2018 01:00 PM NPT
WASHINGTON, Aug 1: US President Donald Trump is considering increasing the proposed tariff on $200 billion worth of Chinese imports from 10 percent to 25 percent, US-based media reported on Tuesday.
The move could be a sign that the White House is looking to intensify pressure on Beijing even if it drives up costs on American products, The Washington Post said, citing a person briefed on the matter. However, a final decision has not been reportedly made.
In early July, the US Trade Representative said the United States was prepared to impose 10 percent tariffs on another $200 billion of Chinese imports into the United States.
US President Donald Trump announced steep tariffs on steel and aluminum imports in March, triggering a wave of disputes with a number of key trade partners. All parties involved have since been exchanging threats to impose bilateral import duties. The parties tried to settle the dispute during trade talks in May and agreed to cut the bilateral trade imbalance, but the dispute continued when Washington levied a further 25-percent tariff on $34 billion of Chinese goods in July, with Beijing immediately responding in kind.
BRICS members China, India and Russia, as well as other states have also initiated disputes against the US measures within the World Trade Organization (WTO).