Trump Administration Ready to Slap Tariffs on $200 Billion Chinese Imports
The Trump administration is reportedly readying tariffs on an additional $200 billion worth of Chinese tech imports in its escalating trade war against China. While the Office of the US Trade Representative is still seeking public submissions on the proposal, it is already suggesting 10% tariffs across 6,031 Chinese product lines.
The US president even warned that that he could tax up to $550 billion in Chinese products, which will exceed the US’ total imports from China during 2017.
The statement was called “reckless” and untargeted by Republican Senate Finance Chairman Orrin Hatch who said that the action “falls short of a strategy that will give the administration negotiating leverage with China while maintaining the long-term health and prosperity of the American economy,”