Trump readies tariffs on more Chinese goods despite talks

Media Trump orders $200 bil. tariffs on China

Trump gives green light to sanctions on $200 billion in Chinese goods

The report comes after the White House invited Beijing to hold new talks on their tariff dispute.

Trump has called on companies to produce more of their goods inside the USA as a response to criticisms.

Last month, Trump had directed the Office of the United States Trade Representative to probe the impact of a 10 per cent tariff, which was later increased to 25 per cent.

The reports come one week after Trump said he would be adding tariffs on $200bn in Chinese goods and had tariffs on another $267bn in Chinese imports "ready to go on short notice if I want".

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Trump frequently criticised "unfair trade" between the U.S. and China while on the campaign trail for the 2016 presidential elections.

Mr Kudlow told Fox Business News on Wednesday that US Treasury Secretary Steven Mnuchin "has apparently issued an invitation".

The public comment period for a list of tariffs on about US$200 billion in Chinese goods closed earlier this month, and Mr Trump said the duties would be imposed "soon".

US President Donald Trump has already imposed 25% tariffs on steel imports and 10% on aluminum, as well as 25% on $50 billion in goods from China.

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The green light for the tariffs, first reported by Bloomberg, initially dragged US stocks lower, fuelled drops in the Chinese yuan in offshore trading and gains in the dollar index.

A White House spokesman didn't immediately respond to a request for comment on Saturday afternoon. If all of the tariffs were invoked, total imports from China facing tariffs would exceed the $505 billion in goods that the United States imported from China a year ago.

Trump first imposed tariffs on roughly $50 billion in Chinese products this summer. But 2018 imports from China through July were up almost 9 percent over the same period of 2017, according to U.S. Census Bureau data. Mnuchin has led a recent overture to the Chinese to restart trade talks. Trump responded this summer by ordering his advisers to come up with a list of $200 billion in other Chinese products to penalize, a package of products that includes many consumer products.

Some observers say the tariffs will likely cover a wide range of consumer goods, and that possible increases in their prices may severely impact USA consumers. "Talks without action won't do the trick".

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The decision comes one week after Trump said he would be adding tariffs on United States dollars 200 billion in Chinese goods and had tariffs on another USD 267 billion in Chinese imports "ready to go on short notice if I want".

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