WASHINGTON (BRAIN) — Late Thursday President Trump proposed another $100 billion in punitive tariffs against Chinese imports, suggesting the president is looking to penalize approximately $400 billion in Chinese goods. About $505 billion in Chinese goods were imported into the U.S. in 2017.
The additional tariffs are a response China imposing tariffs on $50 billion of imported U.S. goods, which itself was the Chinese response to Trump’s initial punitive tariff proposal included approximately 1,300 import categories valued at an estimated $50 billion.
Shortly after Trump’s announcement, U.S. Trade Representative Robert Lighthizer clarified the announcement, saying the tariffs would be levied on an additional $100 billion of imports rather than the president was looking for $100 billion in additional tariffs.
This suggests the U.S. will now levy tariffs on a total of $150 billion on Chinese imports, about a third of the Chinese products being imported. However Lighthizer did not clarify the extent of the new round of tariffs in his news release Friday morning.
But Lighthizer did note that “any additional tariffs proposed will be subject to a similar public …read more