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An official for the Trump administration has recently shared the latest developments on trade relations with China.

Key quotes (via Reuters)

  • Trump has directed Lighthizer to consider increasing the tariff rate on $200 billion of Chinese goods to 25 pct from 10 pct.
  • Public comment period on potential new tariff rate extended until Sept. 5.
  • Communication with China remains open to try to resolve trade differences.
  • Trump remains open to further “Conversations” with China.
  • Officials are in contact with Chinese counterparts to determine whether conditions are right to hold negotiations.
  • It is important that countries do not devalue their currencies for trade advantage.
  • Possible tariff rate increase is not due to any specific action by China.
  • Possible tariff rate increase part of efforts to consider different options to “encourage” China to change behavior.