President Donald Trump expects to boost tariffs on $200 billion of Chinese goods to 25 percent, according to the Wall Street Journal.
The U.S. currently imposes a 10 percent tariff on $200 billion of Chinese goods and a 25 percent tariff on around $50 billion of mostly high-tech goods. Trump has said that he would raise all the tariffs to the 25 percent level if China does not comply with U.S. demands to give up what the U.S. describes as predatory, unfair, and irrational trade practices.
In an interview with the Wall Street Journal published Monday, Trump said it is “highly unlikely” that he would accept China’s request that he hold off on the increase.
Far from backing down on his tariff promises, Trump said in the interview that he is prepared to put tariffs on the rest of Chinese imports not currently covered.
“If we don’t make a deal, then I’m going to put the $267 billion additional on,” at a tariff rate of either 10% or 25%, Mr. Trump said, according to the Wall Street Journal
Trump is scheduled to meet with China’s leader, Xi Jinping, at a summit of the Group of 20 nations at the end of this week.
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