On Monday evening, U.S. President Donald Trump announced an additional $200 billion in tariffs against Chinese imports. He also vowed an additional $267 billion in tariffs if the trade dispute is not resolved in the near future.
CGTN’s Owen Fairclough reports.
Trump’s previously unscheduled announcement on trade comes after Larry Kudlow, the Director of the National Economic Council, said that the U.S. president has “not been satisfied” with the trade talks with Beijing.
According to a announcement by Trump, the president directed the “United States Trade Representative (USTR) to proceed with placing additional tariffs on roughly $200 billion of imports from China. The tariffs will take effect on September 24, 2018, and be set at a level of 10 percent until the end of the year. On January 1, the tariffs will rise to 25 percent. Further, if China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.”
At the same time, the USTR has also been instructed to remove approximately 200 lines from the original tariff list, including: smartwatches, bluetooth devices, chemical goods, bicycle helmets, rubber gloves, car seats and playpens. Those exemptions are expected to begin on September 24.
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