US could slap additional tariffs on China in August
Donald Trump has said he will take action against US$16 billion in Chinese imports ‘in two weeks’
Hours after the United States and China each slapped additional 25 per cent tariffs on US$34 billion worth of their imports, Washington is considering launching a second round of measures on Beijing in August, US officials said on Friday.
With the world’s two largest economies launching a trade war, President Donald Trump’s administration is set to impose additional 25 per cent duties on US$16 billion in Chinese imports covering 284 products – a move that appears likely to draw further retaliation from Beijing.
The Office of the US Trade Representative plans to invoke the second tariff wave after conducting a hearing with business leaders on July 24 and receiving rebuttals for views to be presented at the hearing by July 31.
The administration could invoke the envisaged levies this month because Trump said Thursday that he will take action against the US$16 billion in Chinese imports “in two weeks”.
The new tariffs are in response to China’s alleged intellectual property and technology theft from American companies based on the administration’s Section 301 investigation into Beijing’s “unfair” trade practices.
Earlier on Friday, the Chinese Commerce Ministry condemned the new US tax on 818 products, such as cars, aircraft and industrial robots worth US$34 billion.
