Trump Readies More Tariffs for China--Update
June 18 2018 - 8:49PM
Dow Jones News
By William Mauldin
WASHINGTON -- President Donald Trump threatened to sharply
escalate a trade conflict with China, asking his administration to
identify $200 billion in imported goods from China to be penalized
with tariffs.
Mr. Trump's move comes after Beijing announced it would
retaliate in kind to planned U.S. tariffs on $50 billion in imports
from China. The U.S. president's latest plans, if carried out,
would likely plunge the world's two biggest economies into a trade
war.
"Unfortunately, China has determined that it will raise tariffs
on $50 billion worth of United States exports," Mr. Trump said in a
statement Monday evening, directing U.S. trade representative
Robert Lighthizer to identify $200 billion more in products for
tariffs of 10%.
"If China increases its tariffs yet again, we will meet that
action by pursuing additional tariffs on another $200 billion of
goods," Mr. Trump said.
It wasn't immediately clear how long Mr. Lighthizer's office
would take to identify the new imports subject to tariffs. So far
the tariffs aimed at China through a trade law known as Section 301
have been developed with opportunities for public comment and
hearings in Washington.
The Trump administration last week finalized plans to slap
tariffs on $50 billion in imports from China, accusing Beijing of
violating U.S. intellectual property rights and stealing American
firms' technology. Some of those tariffs -- which would add 25% to
the price of the goods affected at the border -- are set to be
implemented on July 6. China immediately followed by announcing
proportional retaliation.
Mr. Trump has sought to use tariffs as a form of pressure to get
China and other countries to come to the negotiating table and
lower their barriers to U.S. exports and investment in the
countries.
Mr. Trump's tariffs on Chinese-made goods, as well as on steel
and aluminum tariffs from around the world, are prompting increased
concern from businesses and Republican lawmakers. Many Democratic
lawmakers applaud the use of tariffs as a tool to rein in China's
behavior, but fault Mr. Trump for a "chaotic" policy.
Write to William Mauldin at william.mauldin@wsj.com
(END) Dow Jones Newswires
June 18, 2018 20:34 ET (00:34 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.