US President may impose $200 billion tariffs on Chinese goods on Monday

Irving Hamilton
September 16, 2018

"We encourage China to address the long standing concerns raised by the Unites States".

Last week, the president tweeted: "We are under no pressure to make a deal with China, they are under pressure to make a deal with us". This is below the 25 percent the administration said it was considering for this possible round of tariffs.

Trump had already directed aides to proceed with tariffs, despite Treasury Secretary Steven Mnuchin's attempts to restart trade talks with China. Beijing has issued a list of another $US60 billion of American products for retaliation if Trump's next tariff hike goes ahead. Some have advocated a more cautious, diplomatic approach. He has recently boasted that he believes China's economy is suffering because of his hard-charging style.

US President Donald Trump waves during joint statements with China's President Xi Jinping at the Great Hall of the People in Beijing, China, November 9, 2017. He wants China to buy more American products, open up China to more US investment, and stop stealing USA intellectual property, among other things. Bloomberg reports that President Trump has told his top trade advisors that he "wasn't concerned" about their impact on negotiations with China.

The next round of USA tariffs on Chinese goods is likely to make thousands of products, including dishwashers, Fitbit fitness trackers and food seasonings, more expensive for American consumers, CNN reported.

Trump has tried to use tariffs as a way to penalize a number of countries this year, including Mexico, Japan, Canada, and members of the European Union, hoping that the threat of driving up costs on their products will make them more open to his demands. This tactic has had mixed success.

U.S. President Donald Trump hosts a reception for Congressional Medal of Honor recipients in the East Room of the White House in Washington, U.S., September 12, 2018.

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The $200 billion tariff list included various internet technology products and other electronics, printed circuit boards, and consumer goods ranging from handbags to bicycles and furniture.

This comes as the US already placed a 25 percent duty on 50 billion dollars of Chinese imports.

The Chinese foreign ministry said Thursday that it was invited to hold new talks.

China, which has accused the United States of trade bullying, has matched the tariffs dollar for dollar. The open question, of course, is how much action is enough and can China find a way to move that will be seen as being in its own interest, not kowtowing to the U.S.

This year, imports from China through July were up almost 9 percent over the same period of 2017, according to US Census Bureau data.

Trump's top economic adviser, Larry Kudlow told Fox News on Wednesday that the United States government had received information that "the top of the Chinese government wished to pursue talks" prompting Mnuchin to send an invitation. The two leaders may see other at the United Nations General Assembly in NY later this month and are scheduled to meet on the sidelines of the G-20 summit in Buenos Aires in November.

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