Connect with us

News

Trump reportedly wants to push forward with tariffs on $200 billion worth of Chinese goods despite new trade talks

Matt Linden

Published

on

President Donald Trump wants to move forward with tariffs on $200 billion worth of Chinese goods despite new overtures to China from the Treasury Department.

According to Bloomberg, the president instructed aides to move forward with the tariffs despite a recent Treasury letter to Chinese officials requesting a new round of trade talks.

The final imposition of the tariffs has been delayed because the US Office of the Trade Representative has been tweaking the final details of the tariffs in response to comments from US businesses.

Trump has also threatened to impose tariffs on an additional $267 billion worth of Chinese goods, which would mean all Chinese goods sent to the US would be subject to duties.

Negotiations to deescalate trade tensions between the US and China have produced little concrete progress, and the details of future talks remain unclear, though the two sides have expressed a desire to open up a dialogue. Trump has used tariffs to try to pressure Beijing to change its trade practices because the president believes the measures hurt China more than the US.

“The Wall Street Journal has it wrong, we are under no pressure to make a deal with China, they are under pressure to make a deal with us,” Trump tweeted Thursday. “Our markets are surging, theirs are collapsing. We will soon be taking in Billions in Tariffs & making products at home. If we meet, we meet?”

In response to the report, US stocks indexes fell, with the Dow Jones industrial average falling 35 points, nearly 100 points from its high on the day.

Here’s a timeline of the US-China trade war so far:

Join The Conversation

Advertisement