US Could Impose New Tariffs on China This Week
- Author: Tracy Klein Mar 22, 2018,
Mar 22, 2018, 1:14
Senior aides had provided the President with a $30 billion tariff package but Trump ordered them to double it.
The administration is said to be considering wide-ranging tariffs on everything from consumer electronics to shoes and clothing made in China, as well as restrictions on Chinese investments in the U.S., according to people briefed on the matter. China has said it will strike back if the US presses ahead, although it has stressed targeted measures.
"We're waiting for an indication of the procedure for us to make our proposal", said Sergio Amaral, Brazil's ambassador to the United States.
News of the tariffs set off alarm bells among US retailers last week. Despite China's recent rhetorical attempt to portray itself as a defender of free trade, the reality is that US markets remain far more open than Chinese ones, diplomats and experts say.
The Motor and Equipment Manufacturers Association, a trade group that includes the Heavy Duty Manufacturers Association, took issue with the fact that only individual companies and organizations may apply for the exclusions and is urging the Trump administration to allow trade associations to apply on behalf of members. Dong has also been the Director of the National Committee on U.S., China Relations, and the director of Washington State China Relations Council, and was a member of the President Obama's Export Council Subcommittee on Export Administration.
About 40 million tonnes of steel are imported into the European Union each year. He has temporarily exempted big steel producers Canada and Mexico - provided they agree to renegotiate a North American trade deal to his satisfaction. The EU has said that it would take retaliatory measures. Generally speaking, if industry A in the US economy might feel some momentary relief from foreign competition through one set of tariffs, then industry B in the USA economy may face higher priced imported inputs that it must use to make exported goods to sell into a highly competitive world market and thus be adversely affected, either because those higher input costs due to the higher USA tariffs hobble their price positions, because other national governments place pressures upon purchasing decisions to steer away from USA -made products in retaliation, or both.
Expectations of the anti-China tariffs have alarmed dozens of United States business groups, who warned on Sunday they would raise prices for consumers, kill jobs and drive down financial markets. Trump's tariff orders affect semifinished steel, such as ingots and slabs, and many kinds of finished steel products, including pipe and tubes, cold and flat rolls, bars and rods.