President Donald Trump wants to move ahead with a plan to impose tariffs on $200 billion in Chinese imports as soon as a public-comment period concludes next week, according to six people familiar with the matter.
The Trump administration waited about three weeks after announcing in mid-June that it was imposing tariffs on $34 billion of Chinese goods before they were implemented. The next stage of tariffs on $16 billion of goods took hold in August.
The imposition of the $200 billion tranche is the biggest so far and would mark a major escalation in the trade war between the world’s two largest economies and is likely to further unnerve financial markets that have been concerned about the growing tensions.
China has threatened to retaliate by slapping duties on $60 billion of U.S. goods.
Some say this is about 40 years too late, and that the USA is not soon able to compete with the vast amount of Chinese goods.
The effect will be profound, and China never dreamed a President would actually do this.
Matters not, China will soon be begging for mercy. The question is, will Trump give Xi a way to save face, or use this opportunity to leave him in the hands of the Chinese military.
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