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.
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