President Donald Trump has told his top trade official to consider raising proposed tariffs on $200 billion in Chinese goods to 25 percent from the 10 percent rate his administration is currently mulling, the administration announced Wednesday.
The president's direction to U.S. Trade Representative Robert Lighthizer comes as the White House tries to use duties, among other tools, to push China to abandon alleged unfair practices and reach a potential new trade deal. Trump aims to balance a desire to force Beijing to the negotiating table with efforts to avoid escalation in a potentially devastating trade war.
No particular Chinese action led to the president's recommendation, said a senior administration official, who declined to be named, on a conference call with reporters. Reports leading up the announcement suggested the U.S. could take the action in part because the value of China's currency has fallen, thereby making its exports more competitive.
Source: Bloomberg
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