White House aides have been instructed to move forward with tariffs on $200 billion Chinese products. This is in spite of Treasury Secretary Mnuchin’s latest effort this week to restart negotiations with Beijing to end the ongoing trade dispute.
The announcement of the new round of tariffs did not come from the White House on Friday due to a final review of the public comments that were due last week. Sources close to the matter say the Administration is considering revising the final list after taking into account various concerns listed in public comments.
This new round of tariffs is in addition to $50 billion in Chinese goods that already face a 25 percent duty.
The Chinese have retaliated with tariffs on an equivalent amount of U.S. exports, and have promised to match future rounds of U.S. duties.
Last week, President Trump escalated the trade war yet again by threatening a third tranche of tariffs on another $267 billion of Chinese imports. Tariffs on this amount of imports would essentially levy duties on nearly all China exports to the U.S. After a meeting yesterday with the President’s trade team, no decision was made regarding if and when to issue the $267 billion round.