Trump moving forward with plans for new China tariffs

Kudlow: Trump Has 'Not Been Satisfied' With China Trade Talks

The Trump administration will announce as early as Monday that it's imposing a 10 percent tariff on $200 billion of Chinese goods, which Beijing has already said it will retaliate against, according to three people familiar with the decision.

China "wants to make a deal" on trade, Mr. Trump told reporters, adding that "a lot of money" is about to come back "into the coffers" of the U.S.

The Chinese government may decline to participate in proposed trade talks if the Trump administration moves forward with additional tariffs, the Wall Street Journal reported on Sunday, citing Chinese officials.

Earlier Monday, White House chief economic adviser Larry Kudlow said at the Economic Club of New York, "We are ready to negotiate and talk with China any time that they are ready for serious and substantive negotiations" to reduce trade barriers.

The proposed USA tariffs would affect prices for a "wide range" of Apple products, including its Watch, the company had told trade officials earlier this month.

"The president has suggested tariffs on a couple $100 billion" in Chinese goods, Kudlow told CNBC's Becky Quick on Monday at the Economic Club of NY.




A public comment period ended last week for the $200 billion tariff list, which included various internet technology products and other electronics, printed circuit boards, and consumer goods ranging from handbags to bicycles and furniture. U.S. Treasury Secretary Steven Mnuchin has made clear that high-level talks aimed at alleviating the trade tensions between Washington and Beijing will be held late next week. These new tariffs would reportedly take effect "within weeks".

China had already vowed to retaliate if the United States imposed further tariffs. "If countries will not make fair deals with us, they will be 'Tariffed!'"

Separately, one of China's most prominent figures in global finance says Beijing should press Washington to end their tariff battle by clamping down on exports of goods needed by American companies, according to news reports Monday.

Other commentators have suggested Beijing use its holdings of US government debt or target American companies in China.

Fresh trade talks had been proposed by Treasury Secretary Steven Mnuchin to begin around September 20.

Multiple reports in recent days cited officials saying Trump had chose to press ahead with new tariffs, but at a lower rate of 10 percent after initially announcing they should be hiked to 25 percent in light of China's alleged intransigence.

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