U.S.: Trump threatens to raise tariffs on Chinese goods to 25%, target all imports
U.S. President Donald Trump has threatened to increase tariffs on Chinese imports and also expand the number of products subject to duties, but China said on Monday that it was still planning to go to the U.S. for trade talks.
Trump’s comments on Sunday marked a major escalation in tensions between the world’s two largest economies, and a shift in tone from the president, who as recently as Friday had cited progress toward a deal.
“We are also in the process of understanding the relevant situation. What I can tell you is that China’s team is preparing to go to the United States for the discussions,” Chinese Foreign Ministry spokesman Geng Shuang was quoted by Reuters as telling a news briefing.
But Geng did not say if Vice Premier Liu He, who is China’s lead official in the negotiations, will be part of the delegation as originally planned. Negotiations are set to start May 8 in Washington.
“What is of vital importance is that we still hope the United States can work hard with China to meet each other halfway, and strive to reach a mutually beneficial, win-win agreement on the basis of mutual respect,” Geng was quoted as saying.
The Wall Street Journal reported earlier that China was considering canceling this week’s meetings in Washington in light of Trump’s comments, which took Chinese officials by surprise. Trump appeared to defend his decision in a tweet early Monday, slamming the U.S.-China trade deficit and vowing not to lose out to Beijing.
A less-than-rosy update from U.S. Trade Representative Robert Lighthizer, including details that China was pulling back from some previous commitments, prompted Trump’s weekend decision, Reuters reported.
“The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!” Trump said in a tweet.
Trump said tariffs on US$200 billion of goods would increase on Friday to 25 percent from 10 percent, reversing a decision he made in February to keep them at 10 percent due to progress between the two sides.
The president also said he would target a further US$325 billion of Chinese goods with 25 percent tariffs “shortly,” essentially covering all products imported to the U.S. from China.
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