WASHINGTON, May 14 (NNN-KYODO) – U.S. President Donald Trump’s administration unveiled a plan Monday to slap tariffs of up to 25 percent on $300 billion worth of Chinese products, a move that, together with duties imposed so far, would see nearly all Chinese imports taxed.
Amid a further escalation of the tit-for-tat trade war between the world’s two largest economies, Trump said he will meet with Chinese President Xi Jinping on the sidelines of a Group of 20 summit slated for late June in Osaka.
Speaking to reporters at the White House, Trump said he thinks talks with Xi will be “probably a very fruitful meeting,” without elaborating. He added the United States is in a “very strong position” in trade negotiations with China.
A list of Chinese products that would be subject to the new tariffs extends to 3,805 items, including cellphones such as iPhones and laptop computers, according to the Office of the U.S. Trade Representative.
The administration will convene a public hearing on possible tariffs on June 17, an event that will increase pressure on Beijing ahead of the Trump-Xi meeting on the margins of the June 28-29 summit of the 20 major economies in the western Japanese city.
Analysts are watching whether the two leaders will be able to defuse heightened tensions in the tariff war, which has roiled global markets and cast a shadow over world economic growth.
NNN-KYODO
