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Photo: Artyom Ivanov/TASS via Getty Images

President Trump announced on Monday that he wants to identify $200 billion worth of Chinese exports on which to add tariffs of 10% — in addition to the $50 billion in tariffs the administration has already announced — which could set off the next battle in a burgeoning trade war.

What to expect: China has said it will hit back with its own tariffs, as it has done before. If that happens, Trump said in last night's announcement that he wants to identify another $200 billion of Chinese exports to tax. That would total $450 billion in Chinese exports. China exported $505 billion to the U.S. in 2017, so the U.S. would nearly run out of exports to tax. The U.S. exported about $130 billion to China last year.

The timeline: It is likely that a list of the United States' first batch of tariffs would be presented in August, followed by a public comment period, and go live in September, per Cowen Washington Research Group. The second set, if enacted, could go in place by October or November.

  • 659 products will be affected by the $50 billion of tariffs previously announced — and farmers, crude oil, and coal producers will be hit the hardest.

The White House buzz on whether consumers will be negatively impacted: Peter Navarro, one of Trump's top trade advisors, told reporters on a call Tuesday that Americans "know the president has their back" and said "the economic effects will be relatively small."

  • Although Navarro suggested this is not about the greater China-U.S. relationship and just a trade dispute, he also said that what China does "will help define our future relationship."
  • But Navarro also cautioned that there are no negotiations planned with China at the moment: "Our phone lines have been open. They have always been open."

One more thing: The White House will be releasing a report later today detailing the six ways China steals American technology — including through physical theft, cyber theft, and just theft, as well as evading export controls, and forced transfers, according to Navarro.

Go deeper:

Go deeper

New report hits DOJ over lack of police shooting data

Demonstrations followed the shooting of Dijon Kizzee by Los Angeles Sheriff's deputies in 2020. Photo: David McNew/Getty Images

A new government accountability report says the Department of Justice failed to consistently publish an annual summary of police excessive force data from 2016 to 2020, as required by federal law.

Why it matters: The data is crucial for the DOJ to monitor excessive force cases, and used to investigate law enforcement agencies with patterns of abuse. The DOJ can pivot off it to pursue court action to force reforms.

10 mins ago - Politics & Policy

Congressional leaders clinch support for crucial defense bill, debt limit votes

Senate Majority Leader Chuck Schumer passes waiting reporters on Tuesday. Photo: Eric Lee/Bloomberg via Getty Images

Congress has found a shortcut to pass its annual defense funding bill and raise the debt limit.

Driving the news: The House will vote Tuesday night on two major bills — one creating a one-time, fast-track process for the Senate to raise the debt ceiling with just 51 votes, and another passing its annual defense bill.

Biden's pick to lead major banking regulator drops out

Saule Omarova, nominee for Comptroller of the Currency, at a confirmation hearing on Nov. 18. Photo: Anna Moneymaker/Getty Images

President Biden's pick to head one of the country's most powerful banking regulators is dropping out of consideration for the post, according to a statement from Biden that accepted the withdrawal.

Why it matters: Saule Omarova, nominated to lead the Office of the Comptroller of the Currency, faced a tough path to confirmation — with opposition from Republicans and moderate Democrats.