The Trump Administration is readying tariffs on another $200 billion of Chinese imports, ranging from burglar alarms to mackerel, escalating a trade war between the world’s two biggest economies.
The Office of the US Trade Representative proposed 10 per cent tariffs on Tuesday on a list of 6,031 Chinese product lines.
The office will accept public comments and hold hearings on the plan around August 20-23 before reaching a decision after August 31, according to a senior administration official who briefed reporters on condition of anonymity.
Last Friday, the US imposed 25 per cent tariffs on $34 billion on Chinese products, and Beijing responded by hitting the same amount on US imports. The administration said the new levies are a response to China’s decision to retaliate against the first round of US tariffs. President Donald Trump (pictured) has threatened to tax as much as $550 billion in Chinese products — an amount that exceeds America’s total imports from China last year. The US complains that China uses predatory practices in a push to challenge American technological dominance. Read More
Latest posts by Business-Standard.com (see all)
- IDBI Drags GVK Power Arm To NCLT; Company Seeks Settlement - September 19, 2018
- Coal India’s Export Plans Now In Cold Storage Over Domestic Demand - September 18, 2018
- States ready to pay to meet peak demand, but where are the power sellers? - September 17, 2018