New tariffs on Chinese products could be slapped on Friday

One round of trade talks with China failed Thursday and this made Trump administration to move ahead with increased tariffs on $200 billion in Chinese goods.

According to White House deputy press secretary Judd Deere the Ambassador Lightizer and Secretary Mnuchin discussed the matter with President Trump in the evening and thereafter worked out the same with Vice Premier Liu He at dinner. The discussions are to be continued on Friday morning at US Trade Representative Robert Lighthizer office (USTR).

As per the new tariffs the import taxes on Chinese goods are to increase from 10 percent to 25 percent at 12:01 a.m. Friday.

Trump briefed the media at the White House saying, “I’m different than a lot of people… I happen to think the tariffs for our country are very powerful… We were getting very close to a deal then they started to renegotiate the deal… We can’t have that.”

China meanwhile has imposed tariffs on almost all the products imported from US and said to be taking necessary countermeasures to defend its interests if US new tariffs come into effect on Friday.

As per the new tariffs the import taxes on Chinese goods are to increase from 10 percent to 25 percent at 12:01 a.m. Friday.

Chinese Vice Premier Liu Hu said he has come to Washington under pressure to show sincerity of his country.

Trump has frequently accused China of taking advantage of American trade policies since escalation of trade conflict that began about more than a year ago.

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Paul Linus

Paul Linus is a professional writer associated with several online news media houses. He writes on international politics and business. He can be reached here - knowledgeherald@gmail.com
Paul Linus

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