Trump on Sunday revived a threat to impose a 25 percent tariff on essentially all Chinese goods in order to prod Beijing into moving more quickly to reach a trade deal
That 10 percent had been scheduled to go to 25 percent at the end of last year, but Trump delayed that action to provide time for negotiations.
Now, Trump says he plans to raise the 10 percent duty to 25 percent on Friday because negotiations with Beijing are going too slowly. He also said he would “shortly” impose a 25 percent duty on another $350 billion worth of Chinese goods unless a deal was reached soon. U.S. imports from China last year totaled nearly $540 billion.
The new threat comes in between a set of high-level trade negotiations aimed at bringing the long-running negotiations to a close. The U.S. trade representative, Robert Lighthizer, and Treasury Secretary Steven Mnuchin traveled to Beijing last week for talks, and Chinese Vice Premier Liu He is expected in Washington this week.By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time.
Trump, in recent months, has been upbeat about the Chinese negotiations. However, he has also held out the threat of raising tariffs if a deal between the world’s two largest economies can’t be reached. China has responded to Trump’s tariffs by imposing duties on $110 billion worth of American products. Farmers have been hit particularly hard by that retaliation, along with seafood producers, chemical manufacturers and a number of other sectors.
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