This move came as the hawkish, hard-line group with China gained prominence in the administration of President Trump.
US President Donald Trump wants to step up plans to levy $ 200 billion in Chinese goods soon after the public hearing ends next week, according to six sources close to the event.
In response to Bloomberg in an interview on Aug. 30, Trump said that this was “absolutely not wrong”.
He also criticized the management of the yuan, arguing that China has devalued its currency in response to the slowing economy.
The time to gather comments on President Trump’s tax rate is 6/9, which is expected to rise from the “self-pleased” camera stick to the semiconductor device.
Expansion of the tariff war will mark the most important step in trade tensions over the past several months and undermine China’s growth prospects.
US Trade Representative Robert Lighthizer – who is considered a “hawk” advocate of Chinese taxation. Picture: The Straits Times.
Trump’s plan to attack China was launched when trade talks between the two countries showed little signs of progress. Discussions between US and Chinese officials last week in Washington have hindered hopes of a speedy deal.
This move came as the “hawks” of tough stance against China gained prominence in the administration of President Trump.
One of them – the US Trade Representative Robert Lighthizer – has scored “one of the President’s biggest trade victories so far” by launching a bilateral trade agreement with Mexico to replace it. North American Free Trade Agreement (NAFTA).
(This agreement was announced earlier this week and Canada is currently negotiating to participate.)
The latest tariff decision on China is provoking heated debate within the Trump administration.
US Trade Representative Lighthizer and White House business adviser Peter Navarro are pushing for swift action while Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow say more time is needed, Bloomberg reported. .
The United States agreed on its own accord with Mexico, but the Canadian idea was unfavorable
The US president cut off negotiations with China for what he saw as a lack of Beijing’s cooperation in nuclear talks with North Korea, a source said.
Trump on Monday accused China of exerting pressure on North Korea to refrain from nuclear talks with the United States.
Edward Alden, a senior fellow at the Council on Foreign Relations in Washington, says Lighthizer’s success in negotiating the NAFTA trade deal has strengthened his influence with the president.
That increases the likelihood that the outcome of negotiations with China may be in the hands of one of the most likely negotiators and also one of the toughest in China.
NAFTA is clearly a personal victory for Lighthizer. If the president puts China’s “record” into the hands of the Lighthizer, real progress can happen, or at least open the possibility of a “frightening” China deal that we have not seen before, Mr. Alden predicted.
Some note that President Trump has not made a final decision, and that the administration may start the tax on a partial basis. The United States has imposed a tax of $ 50 billion on goods from China.
It is also possible that the US president will announce a tax rate next week, but the deadline will be effective. In mid-June, President Trump had waited three weeks to announce a $ 34 billion import tax on Chinese imports. This was followed by a $ 16 billion tax increase in effect in August.
China has threatened to retaliate by imposing a $ 60 billion tax on US goods. The Trump administration is finalizing China’s list of targets and tariffs, which may range from 10% to 25%, after six days of public hearings.