Trump to propose 25-percent tariff on $200 billion of Chinese imports: source
The Trump administration plans to propose slapping a 25-percent tariff on $200 billion of imported Chinese goods after initially setting them at 10 percent, a source familiar with the plan said on Tuesday.
President Donald Trump`s administration said on July 10 it would seek to impose the 10-percent tariffs on thousands of Chinese imports, ranging from food products and furniture to chemicals, steel and aluminium.
While the tariffs would not be imposed until after a period of public comment, raising the proposed level to 25 percent could escalate the trade dispute between the world`s two biggest economies.
The source said the administration could announce the tougher proposal as early as Wednesday.
In early July, the U.S. government imposed 25-percent tariffs on an initial $34 billion of Chinese imports. Beijing retaliated with matching tariffs on the same amount of U.S. exports to China.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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