Business Maverick: Trump Ratchets Up US-China Trade War With New Tariffs

The new import taxes, which President Trump later said could go “well beyond” 25%, will be imposed beginning Sept. 1 on a long list of goods expected to include smartphones, laptop computers and children’s clothing. They will come on top of the 25% duty in place already on some $250 billion in Chinese goods and mean that almost all trade with China will be subject to new taxes.

Six people familiar with the discussions said that during meetings with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin in Shanghai earlier this week the Chinese side had also made no new proposals. That had left the way out of an impasse in talks over the substance of a deal that the two sides hit in May unclear, which prompted the administration to decide to increase pressure further on Beijing at a White House meeting Thursday.

Both China and the U.S. said after this week’s talks that their negotiators would regroup in Washington in early September. People close to the administration said they were still planning for those talks to go ahead.“Assuming Trump’s tweet becomes policy, we’d expect a proportionate reaction from China. That would mean more tariffs on imports from the U.S. We don’t think China would shoot itself in the foot with harassment of U.S. firms or sales of U.S. Treasuries.

A spokesperson for the Chinese Embassy in Washington referred inquiries to the Ministry of Commerce in Beijing.Jerome Powell on July 31. Photographer: Andrew Harrer/Bloomberg A draft list of $300 billion worth of targets published by the Trump administration as talks started to break down in May included a raft of consumer and technology goods, including most of Apple Inc.’s major products such as the IPhone, along with toys, footwear and clothing. The U.S.

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