WASHINGTON – President Donald Trump directed the U.S. Trade Representative to prepare new tariffs on $200 billion in Chinese imports Monday as the two nations moved closer to a potential trade war.
The tariffs, which Trump wants set at a 10 per cent rate, would be the latest round of punitive measures in an escalating dispute over the large trade imbalance between the two countries. Trump recently ordered tariffs on $50 billion in Chinese goods in retaliation for what the U.S. said is intellectual properly theft. The tariffs were quickly matched by China on U.S. exports.
“China apparently has no intention of changing its unfair practices related to the acquisition of American intellectual property and technology,” Trump said in a statement Monday announcing the new action. “Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong.”
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