Trump Signals U.S. Likely to Go Ahead With China Tariff Increase
- U.S. to boost duty on $200b of China goods to 25% from 10%
- Trump tells WSJ he may hit all China goods if no deal with Xi
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President Donald Trump said he’ll likely push forward with plans to increase tariffs on $200 billion of Chinese goods, indicating he would also slap duties on all remaining imports from the Asian nation if negotiations with China’s leader Xi Jinping fail to produce a trade deal.
Trump, in an interview with the Wall Street Journal published Monday, said he’s prepared to impose tariffs on a final batch of $267 billion of Chinese shipments if he can’t make a deal with Xi when they meet at the Group of 20 meeting in Argentina, which starts Nov. 30. The rate could be either 10 percent or 25 percent, Trump said.