White House Considering Further Tariffs On Chinese Products

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The top economic adviser of Chinese President Mr Xi Jingping, Mr Liu He, will meet with White House representatives this Thursday to discuss President Trump’s increased frustration about the soaring US trade deficit with China.

Although Mr Trump says he gets on with Mr Jinping on a personal level, it is understood he wishes to decrease the whopping trade deficit of $375 billion drastically.

Looking at the example of the EU, it is being whispered that Mr Trump considers to slap import tariffs on Chinese steel and aluminum.

Related coverage: <a href="https://thegoldwater.com/news/16696-America-First-Tariffs-Imposed-On-Foreign-Products">‘America First’ Tariffs Imposed On Foreign Products</a>

The White House will be represented by US Treasury Secretary Steven Mnuchin, US Trade Representative Robert Lighthizer and White House economic adviser Gary Cohn.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Did you know? Soy could play a critical role in the trade war between the U.S. and China.<a href="https://t.co/2rwBZwqWeJ">https://t.co/2rwBZwqWeJ</a></p>&mdash; The Wall Street Journal (@WSJ) <a href="https://twitter.com/WSJ/status/969089897054326784?ref_src=twsrc%5Etfw">March 1, 2018</a></blockquote>

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The official detailing the matter to the press wished to remain anonymous but did share: “We expect a frank exchange of views on the trade and economic relationship, and that talks will focus on the substantive issues.”

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Trump Adds Pressure on China Trade <a href="https://t.co/nRK70Srd5o">https://t.co/nRK70Srd5o</a> <a href="https://t.co/1sRBp56MN3">pic.twitter.com/1sRBp56MN3</a></p>&mdash; Marco Dotti (@oilforbook) <a href="https://twitter.com/oilforbook/status/969102851766083584?ref_src=twsrc%5Etfw">March 1, 2018</a></blockquote>

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Should enough progress be made during the talks, it could be that Mr Trump joins the meeting himself near the end.

When asked about the percentage of taxes that will be slapped on Chinese imports (24% percent seems to be a starting point), Mr Trump responded to reporters: ”The only thing that can get in its way is trade, because it so one-sided, it’s so lopsided.”

Source:

https://www.reuters.com/article/us-usa-china-trade/white-house-expects-frank-exchange-on-trade-with-chinese-official-source-idUSKCN1GC30R