Trump threatens to slap new tariffs on $200 billion in Chinese g - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Trump threatens to slap new tariffs on $200 billion in Chinese goods

Posted: Updated: Jun 19, 2018 10:43 AM
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WASHINGTON - President Donald Trump on Monday threatened to slap another round of tariffs on $200 billion of Chinese products, the latest move in an escalating trade war with Beijing.

Trump said the new tariffs, which come days after his administration leveled $50 billion in duties on a wide array of Chinese goods, were a response to the retaliatory trade barriers the Chinese government imposed Friday.

Trump said the latest round of tariffs - which he set at 10 percent - will go into effect if Beijing moves forward with its own import restrictions. The administration did not say Monday which products it would target.

"This latest action by China clearly indicates its determination to keep the United States at a permanent and unfair disadvantage,' Trump said in a statement released by the White House on Friday. "This is unacceptable.'

The decision was almost certain to raise fears about a potential trade war with one of the nation's largest trading partners. Trump said in his statement Monday that the U.S. is prepared to pursue tariffs on another $200 billion of goods if China retaliates again.

"The trade relationship between the United States and China must be much more equitable,' Trump said.

On Friday, the Trump administration slapped a 25 percent tariff on $50 billion of Chinese-made products. In all, 818 products representing $34 billion in U.S. imports would fall under the first round of duties. The White House said an additional 284 products were under review.

The announcement Friday drew an immediate response from Beijing, which said it would move forward with its own tariffs. China vowed to place new, 25 percent tariffs on more than 500 U.S. products, including soybeans, electric cars and orange juice.

The trade disputes between China and the U.S. has been escalating for months. In April, China raised import duties on a $3 billion list of U.S. products that include pork and apples. Chinese officials have threatened further retaliation, stoking fears of trade war between the two countries.

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