U.S. President Donald Trump approved duties for Chinese goods, totaling $50 bln, the sources, familiar with Trump’s decision, informed, The Wall Street Journal reports.
According to five people, familiar with this question, Trump’s administration prepares to issue the updated list of Chinese products, which will be affected by duties.
White House said that the obligations will be fulfilled “as soon as possible” after the list is issued on Friday, though the date is not set. The Ministry of Commerce of China refused to immediately comment on the report, in which Trump approved duties.
“The realization of tariffs, when it happens, can lead to trade war”, Head of Investment Strategy and Economics at AMP Capital Investors Limited in Sydney Shayne Oliver noted.
Previously, Trump said that he is going to impose tariffs on Chinese goods and limit Chinese investments. Later, the Ministry of Commerce of China reported that it prepares for repeated imposition of duties on U.S. goods. Later, from April 2, China imposed increased duties on 128 goods, imported from U.S.
Trump also imposed tariffs on steel (25%) and aluminum (10%) from all countries, except for Canada and Mexico, for which the exception was made for 30 days.
