Report: Trump Poised To Impose Tariffs On China
- 6 years ago
The Trump administration is reportedly poised to impose a new round of tariffs aimed at one specific country--China.
The Trump administration is reportedly poised to impose a new round of tariffs aimed at one specific country--China, notes the New York Times.
According to the Associated Press, the policy could affect "a wide variety of consumer goods, from apparel to electronics, and even on imported parts for products made in the U.S."
In fact, reports have estimated the proposed tariff could affect $30 billion to $60 billion in Chinese products.
The administration is said to be targeting the Asian country over its questionable trading practices, including theft of intellectual property held by U.S. entities, reports Reuters.
While the timing and details of the rollout are reportedly still being finalized, some critics have already sounded the alarm over the plan's potential fallout.
"Tariffs could lead to a destructive trade war with serious consequences for U.S. economic growth and job creation," the president of the U.S. Chamber of Commerce, Thomas Donohue, has warned.
Lu Kang, a spokesperson with the Chinese government, echoed that comment.
"U.S. trade with China in the past 40 years very objectively reduced American families' per capita spending burden. We have said many times, there are no winners in a trade war," Lu said.
However, White House press secretary Sarah Huckabee Sanders has defended Trump's position on international trade, saying, "The president's going to continue fighting for the American worker." "He's also working with a number of individual countries and negotiating on areas of national security where we can work together," Sanders further noted.
The Trump administration is reportedly poised to impose a new round of tariffs aimed at one specific country--China, notes the New York Times.
According to the Associated Press, the policy could affect "a wide variety of consumer goods, from apparel to electronics, and even on imported parts for products made in the U.S."
In fact, reports have estimated the proposed tariff could affect $30 billion to $60 billion in Chinese products.
The administration is said to be targeting the Asian country over its questionable trading practices, including theft of intellectual property held by U.S. entities, reports Reuters.
While the timing and details of the rollout are reportedly still being finalized, some critics have already sounded the alarm over the plan's potential fallout.
"Tariffs could lead to a destructive trade war with serious consequences for U.S. economic growth and job creation," the president of the U.S. Chamber of Commerce, Thomas Donohue, has warned.
Lu Kang, a spokesperson with the Chinese government, echoed that comment.
"U.S. trade with China in the past 40 years very objectively reduced American families' per capita spending burden. We have said many times, there are no winners in a trade war," Lu said.
However, White House press secretary Sarah Huckabee Sanders has defended Trump's position on international trade, saying, "The president's going to continue fighting for the American worker." "He's also working with a number of individual countries and negotiating on areas of national security where we can work together," Sanders further noted.