Trucks transport containers at Dachan Bay Terminals in Shenzhen, Guangdong Province of China. Photo: VCG
The Trump administration is considering increasing tariffs on $200 billion in Chinese products from 10% to 25% as it seeks to force Beijing to negotiate better trade deals, reports Bloomberg.
The details: The Trump administration imposed tariffs on $34 billion worth of Chinese goods earlier this month, escalating a global trade war that has pitted the country against its trading partners. The move was met by retaliatory tariffs from China, aiming at states that voted for President Trump in the 2016 election. Three sources with knowledge of the plan to increase tariffs told Bloomberg it could be made public in the Federal Register coming days. However, it hasn't been finalized and may not solicit public review.