US President maintains plan to increase tariffs on China
Yesterday (August 30), US President Donald Trump confirmed that he will keep the plan to increase taxes on Chinese goods.
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| US President Donald Trump. Photo: SCMP |
Speaking at the White House, the US President affirmed that there is no change related to the plan to collect a 15% tax on some goods on the list of items that will be taxed worth 125 billion USD from China from September 1.
Earlier this week, the Office of the United States Trade Representative (USTR) also reaffirmed President Donald Trump's plans to impose an additional 5% tariff on $300 billion worth of Chinese imports, scheduled to take effect on September 1 and December 15, respectively.
However, the US leader also emphasized that the US-China trade negotiations scheduled for September will still take place. On the same day, the Chinese Foreign Ministry also confirmed that the US-China trade negotiations are still taking place effectively.
Over the past two years, the Trump administration has sought to persuade China to abandon what Washington calls unfair trade practices and change policies on intellectual property protection, forced technology transfers, industrial subsidies and market access. The trade dispute erupted in July 2018, with the two countries slapping tariffs on hundreds of billions of dollars worth of each other’s goods.
