Trump introduce new customs duties against Chinese goods worth 200 billion USD

The US President Donald Trump plans to announce new customs duties against Chinese goods worth about 200 billion USD. The level of duty will probably be around 10%, below the 25% that administration has announced for this round of increases, according to administration officials.

The announcement came after the White House invited China for new talks on their dispute over customs tariffs. So far, the two governments have enforced mutual duties on imports worth 50 billion USD.

The Trump administration urges China to reduce its 375 billion USD trade surplus with the United States and to end its policy of acquiring US technology and intellectual property to save industrial investment in high technology,

Already on Friday, Bloomberg reported that Trump did not give up the introduction of duties despite the efforts of Finance Minister Steven Mnuchin to resume talks with China on resolving the trade war.

Last year, the United States imported goods from China worth 505 billion USD. In 2018, Chinese imports rose by nearly 9% over the same period in 2017.

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Posted from my blog with SteemPress : http://financeandmarkets.com/trump-introduce-new-customs-duties-against-chinese-goods-worth-200-billion-usd/

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