Trump proposes $200b more in new tariffs on China
7 April, 2018, 12:00 am
WASHINGTON – President Donald Trump said on Thursday he had instructed US trade officials to consider $US100 billion ($F200b) in additional tariffs on China, fueling an already heated trade dispute between the world’s two biggest economies.
Mr Trump said in a statement the further tariffs were being considered “in light of China’s unfair retaliation” against earlier US trade actions that included $US50b ($F102b) of tariffs on Chinese goods.
He added that the US Trade Representative had determined that China “has repeatedly engaged in practices to unfairly obtain America’s intellectual property.”
US stock index futures fell in reaction to Mr Trump’s latest statement.
Financial markets have swung wildly over the past few days in response to fears of escalating trade tensions between Washington and Beijing.
“Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers,” Mr Trump said.
The tariffs are aimed at forcing changes to Chinese government policies aimed at transferring US intellectual property to Chinese companies.