Donald Approves Tariffs Against for $50 Billion,  USTR to announce products to tariffs on Friday; has said it would retaliate. to an published the Journal on June 14th  by Bob Davis  Peter Nicholas. the contribution of Vivian Salama and Lingling Wei.

President Donald Trump approved tariffs on about $50 billion of Chinese goods, with the decision said, as the U.S. ratchets up its fight with Beijing over China’s alleged pressure on U.S. firms to transfer to Chinese partners.

The approval followed a 90-minute meeting on Thursday of senior White officials, national-security officials and senior representatives of the Treasury, , U.S. Trade Representative’s Office.

It wasn’t clear the tariffs would go into effect. Beijing has said that it intends to assess tariffs on a corresponding of U.S. goods.

USTR expects to announce the goods subject to tariffs on Friday and publish in the Federal Register week, the people familiar with the matter said. The affected imports would face 25% tariffs; the products are expected to be similar to those on a preliminary that USTR released in early April.

The office has held hearings on the list of 1,300 categories of products to see duties on any of the goods it selected would unduly harm U.S. and businesses. USTR is expected to cut some of the products from the list and add others, especially items, the people familiar with the matter said.

The U.S. decision become the start of a tit-for-tat series of retaliatory moves. If the U.S. hits China with tariffs, China immediately retaliate with tariffs, said a Chinese official. “We hate unilateral actions,” the official said.

Beijing has said it had prepared its $50 billion lists of U.S. goods that it would subject to tariffs, especially aircraft and soybeans.

After Beijing made that threat, President Trump upped the ante and said the U.S. would add another $100 billion of goods to the U.S.’s tariff list. The U.S. hasn’t followed up on that threat by enumerating what goods would be included in that batch.

On Thursday, Chinese Foreign Minister Wang Yi said China and the U.S. faced a choice between cooperation and mutual on the one and confrontation and mutual loss on the other.

“China chooses the first,” Mr. Wang told a joint conference, after talks with U.S. Secretary of State Mike Pompeo in Beijing.

“We hope the U.S. side also the same wise choice,” Mr. Wang said. “Of course, we also made preparations to to the second of choice.”

As word filtered through that Mr. Trump was about to make a decision on tariffs, some trade hawks offered qualified support for the president. Rep. Rosa DeLauro (D., Conn.), a longtime opponent of -trade deals, said: “tariffs must be seen as one tool among many our can use to hold bad actors China accountable and to bring the Chinese government to the table to secure a favorable balance of trade.”

But Ms. DeLauro added that Mr. Trump must come up with a “comprehensive strategy” for dealing with Beijing.

The conservative Tax Foundation calculated that the tariffs on Chinese imports, coming on of U.S. tariffs on steel and aluminum exports, would -run” gross domestic product and wages by 0.06%, reduce employment by 45,293 positions and make U.S. taxes progressive.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.