Donald Trump’s administration steps up its offense against global trade, aiming to introduce duties on Chinese goods worth tens of billions of dollars next week. The decision can be announced already this Friday, which in turn could lead to Beijing’s reciprocal measures.
The high representatives of the White House, the Trade and Finance Ministry, and the US Trade Representative’s office held a meeting before Trump went to the G7 meeting in Canada last week. They have agreed that Washington should continue with the introduction of levies to China. They say the US president has not yet given his final approval, and he may be tempted to complete the decision, as the United States wants Beijing to cooperate with North Korea.
Meanwhile, in an interview Donald Trump said he intends to enter into a “very strong” confrontation with China in the coming weeks.
“China may be a bit upset about trade because we are pushing them very hard”, said Donald Trump.
Bloomberg publication refers to the White House, where intends to continue their plans to impose Chinese customs duties on goods worth 50 billion USD. The Wall Street Journal, for its part, points out that this amount may not be conclusive as it is possible that some of the items on the original list to be removed and others added after the public consultation period. It is possible to add high-tech products like semiconductors as the US administration wants to oppose China’s attempts to strengthen its position in the technology sector.
The Chinese authorities tried to avoid the levies. Beijing and Washington have held several rounds of talks, but they have failed to reach agreement. Within one of them, Chinese authorities have proposed local companies to buy products worth 70 billion USD in agricultural, energy and other production.
However, according to a source from Washington, the US President has rejected the proposal.
No other talks between the two countries are planned yet.