WASHINGTON (Sputnik) – US President Donald Trump said on Monday that he will make an announcement about China trade policy after financial markets close, boosting expectations that he will carry out a threat to levy tariffs on some $200 billion worth of Chinese goods.
“You’re going to see on China today, right after the close of business we’ll be announcing something,” Trump told reporters in the Oval Office.
Earlier, Director of the National Economic Council Larry Kudlow said that Donald Trump would likely unveil a new round of tariffs on $200 billion worth of Chinese goods “soon” because he was unsatisfied with the progress of ongoing trade talks between Washington and Beijing.
China-US trade relations have been tense after Trump announced import duties on steel and aluminium in March. Washington and Beijing have imposed several rounds of tariffs. Bilateral trade consultations between the two governments have been so far failing to halt an escalating trade war.
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US Trade Representative Robert Lighthizer said Trump had asked him to consider increasing tariffs on $200 billion worth of Chinese goods from 10 to 25 percent in August.