Seeking to adjust the US trade imbalance with China, Washington could more than double the pending tariffs on Chinese imports. Beijing has warned of an immediate mirror response.
The White House is considering increasing planned tariffs on $200 billion of Chinese goods from 10 to 25 percent, according to unnamed sources familiar with the issue, as quoted by Bloomberg. The step reportedly comes as negotiations between officials from the US and China failed to ease current trade tensions.
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In response, Chinese authorities have warned the US against “blackmailing and pressuring,” and vowed to hit back if its hawkish partner takes further steps to hinder mutual trade.
“If the US takes measures to further escalate the situation, we will surely take countermeasures to uphold our legitimate rights and interests,” Geng Shuang, spokesman for Chinas Ministry of Foreign Affairs, told journalists.
The official called for talks that will be based on “equality and respect as well as established rules and credibility” to resolve the disputes over trade.
In July, the Trump administration introduced 25-percent tariffs on Chinese goods worth $34 billion. Beijing immediately imposed retaliatory levies in the same amount on US imports. A second round of tariffs on imports worth $16 billion could take effect this week.
Earlier, US Trade Representative Robert Lighthizer exacerbated the conflict by releasing a list of thousands of Chinese products worth $200 billion that could face additional 10-percent tariffs.
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