Trump could more than double his proposed tariffs on $200 billion of Chinese goods — and China is preparing to strike back against US 'blackmail'
Business Insider
Published Aug 01, 2018 04:14AM ET
Updated Aug 01, 2018 09:40AM ET
- The Trump administration is said to be ready to raise its proposed tariffs on $200 billion of Chinese goods.
- Trump has threatened 10% tariffs on those goods, but Bloomberg says he is expected to increase that to 25%.
- The move is thought to be a negotiating tactic aimed at gaining important concessions from the Chinese government.
- Beijing has reacted angrily to the reports, accusing Trump of "blackmail" and threatening retaliation.
- Tariffs on $34 billion of largely industrial goods have already been imposed on China.
After a handful of quiet days in President Donald Trump's trade war, it looks as if a further escalation may be on its way following reports that another round of tariffs on China could be announced imminently and a statement from the Chinese government saying it is readying a retaliation.
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Written By: Business Insider
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