U.S. Threatens to Tax Another $200 Billion Worth of Chinese Goods

July 11, 2018 at 12:02 AM

The Trump administration says it is preparing to expand its 25% import tariff on $34 billion worth of Chinese goods with a 10% tax on an additional 6,000 items worth $200 billion.

The new round of levies—a response to China’s retaliatory tariffs imposed as a response to the 25% U.S. tax that began last Friday—could take effect as soon as September, according to the White House.

Threat of a new wave of tariffs comes three days after the two countries imposed tit-for-tat taxes on $34 billion worth of each other’s goods. The U.S. also is reviewing an additional $16 billion worth of Chinese products that could be subjected to last Friday’s 25% import duty.

The Trump administration has vowed to continue expanding U.S. tariffs until China lowers its own import taxes. The White House also wants China to drop what it calls unfair business practices and policies that swap access to Chinese markets in exchange for China’s access to American intellectual property.