The US intends to impose tariffs on all remaining imports from China.
(Baonghean.vn) - Informed sources said on October 30 that the US is preparing to announce new tariffs in early December targeting all remaining imported goods from China.
The final decision will be made if the upcoming summit between US President Donald Trump and Chinese President Xi Jinping fails to ease the current tensions stemming from the trade war between the two countries.
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| The US-China summit is expected to take place on the sidelines of the G20 Summit in Buenos Aires next November. Photo: AP |
An announcement in early December of a new list of Chinese goods subject to tariffs means the official effective date could coincide with the Lunar New Year holiday in early February, as regulations require a 60-day public comment period on the new decision.
The list would apply to imports that have never been subject to tariffs before, which could be worth $257 billion based on last year's import figures.
US officials are preparing for such a scenario, in case the US-China summit scheduled to take place on the sidelines of the G20 Summit in Buenos Aires next November fails.
The move shows the Trump administration remains willing to escalate its trade war with China, even as businesses complain about rising costs from higher tariffs and financial market investors continue to worry about the global economy's woes.
This year, the US has imposed tariffs on $250 billion worth of imported goods from China. The 10% tariff on $200 billion worth of imported goods from China, which took effect in September, will increase to 25% in January next year.
If the decision to impose the above tariffs is implemented, this will be the final step in the Trump administration's efforts to force the Chinese leadership to the negotiating table by putting pressure on imported goods from this Asian country./.
