Report Trump to Unveil Massive Package of Tariffs Against China
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President Trump is expected to unveil a massive “package of tariffs” against China in the coming weeks, multiple sources close to the White House told Politico.
Trump is seeking “steep” tariffs against China for their alleged stealing of intellectual property and dumping of cheap, imported goods in the U.S., sources claim. In a meeting at the White House, U.S. Trade Representative Robert Lighthizer showed Trump a “package of tariffs,” but the populist president demanded the tariffs be even steeper.
During the meeting, which hasn’t been previously been reported, U.S. Trade Representative Robert Lighthizer presented Trump with a package of tariffs that would target the equivalent of $30 billion a year in Chinese imports. In response, Trump urged Lighthizer to aim for an even bigger number – and he instructed administration officials to be ready for a formal announcement in the coming weeks, according to two people involved in the administration’s trade deliberations. [Emphasis added]
That sent senior officials at the White House, Treasury Department, State Department, Justice Department, the Office of the U.S. Trade Representative and other key agencies scrambling this week to finalize the proposal. While the details were still in flux, aides said the administration is considering tariffs on more than 100 Chinese products ranging from electronics and telecommunications equipment to furniture and toys. [Emphasis added]
Sources with Reuters say Trump is eyeing tariffs on China that would hit at least $60 billion worth of their annual cheap, imported goods in the U.S.
#BREAKING: Trump administration looking to impose tariffs on $60 billion of Chinese goods; tariffs would target tech products and telecoms but would not be limited to those – Reuters, citing sources
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