Trump preparing additional tariffs on $200B in Chinese goods
The U.S. is pursuing a new set of tariffs that would hit $200 billion in Chinese goods, according to senior administration officials.
In a list published late Tuesday, the U.S. Trade Representative said the 10% tariffs would target a variety of products imported from China, including clothing, baseball gloves, bicycles, refrigerators and seafood.
The additional U.S. tariffs, which will go through a two-month approval process including a public hearing, come after China retaliated in a tit-for-tat trade skirmish last week.
The U.S. imposed an initial round of 25% tariffs, applying to $34 billion in imports, as part of a $50 billion tariff plan. China responded with levies of its own, targeting $34 billion in U.S. products such as pork and whiskey.
“As a result of China’s retaliation and failure to change its practices, the president has ordered USTR to begin the process of imposing tariffs of 10 percent on an additional $200 billion of Chinese imports,” U.S. Trade Representative Robert Lighthizer said in a statement. “This is an appropriate response under the authority of Section 301 to obtain the elimination of China’s harmful industrial policies.”
Dow futures were down more than 200 points Tuesday evening.
FOX Business’ Edward Lawrence contributed to this report.