TRUMP TO MOVE FORWARD ON NEW CHINA TARIFFS: Against the advice of the business community and many members of Congress, President Donald Trump plans to proceed with duties on roughly $200 billion more in Chinese goods as soon as today, a senior administration official confirmed. Such a move would be another sign that the president isn’t planning on de-escalating what has already become a protracted trade battle between the world’s two largest economies.
The White House could announce as soon today or Tuesday that it will slap a 10 percent tariff on the $200 billion list of goods, the official told POLITICO this weekend. “We’ll start at 10” percent, the official said, carrying through on an administration announcement from July 10. However, the duties could eventually be ratcheted up to 25 percent, as Trump directed U.S. Trade Representative Robert Lighthizer to consider on Aug. 1, the official added.
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