Trump seeks another $100 billion in tariffs against China
"In light of China’s unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs," Trump said in a statement issued by the White House.
China filed a complaint earlier at the World Trade Organization (WTO), claiming that the tariffs Washington plans to implement would be in excess of the U.S.' bound rates and are inconsistent with some WTO articles on trade and tariffs.
The U.S. Trade Representative announced Tuesday it is planning to impose 25 percent tariffs on 1,300 Chinese goods worth $50 billion. Beijing took retaliatory steps Wednesday and said it would impose 25 percent tariffs on 106 U.S. goods worth $50 billion.
Last month, the Trump administration imposed tariffs of 25 percent on steel and 10 percent on aluminum imports. In response, China said earlier this month it would impose tariffs of 15-25 percent on $3 billion worth of U.S. products. ■