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Sat, Sep 22, 2018 | Last Updated 3:23 pm IST

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Donald Trump to put Tariffs on $50 billion of Chinese exports

Donald Trump to put Tariffs on $50 billion of Chinese exports
Donald Trump to put Tariffs on $50 billion of Chinese exports
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Washington sources reported that an official announcement was expected on Friday, an informed source told on Thursday that Trump's approval came after a meeting on Thursday with top economic officials, including Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross and US Trade Representative Robert Lighthizer. 



Moreover in response to the development, Chinese Foreign Ministry spokesman Geng Shuang reiterated that Beijing would not honor its pledge to increase purchases of US goods if tariffs were imposed. Earlier Beijing said it would respond to American tariffs on $50 billion worth of Chinese exports with retaliatory tariffs on $50 billion of US products such as cars, planes and soybeans.

Donald Trump to put Tariffs on $50 billion of Chinese exports

Furthermore for months, Trump has slow walked threats of tariffs against China as punishment for intellectual property theft. Accordingly he first announced that the US would impose trade penalties on about $50 billion of Chinese goods in March. Moreover the countries said in a joint statement that China would "significantly increase" purchases of US agricultural and energy products to reduce the trade imbalance, a top Trump administration demand. Mnuchin subsequently declared the trade war "on hold".

Donald Trump to put Tariffs on $50 billion of Chinese exports

Donald Trump to put Tariffs on $50 billion of Chinese exports
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