China Tariffs

AP Photo/Andy Wong

Trump Announces Tariffs On Another $200 Billion In Products From China

September 17, 2018 - 6:52 pm

WASHINGTON (WCBS 880/AP) -- President Donald Trump on Monday directed the U.S. Trade Representative to go ahead with additional tariffs on about $200 billion in imports from China.

The tariffs will take place on Monday, Sept. 24 and will be set at 10 percent until the end of the year. Effective Jan. 1, they will rise to 25 percent.

If China takes retaliatory action against U.S. farmers or other industries, the U.S. will go ahead with “phase three” on tariffs against $267 billion more imports, the White House said.

A tariff of 25 percent had already been in place for $50 billion worth of Chinese goods.

“After a thorough study, the USTR concluded that China is engaged in numerous unfair policies and practices relating to United States technology and intellectual property – such as forcing United States companies to transfer technology to Chinese counterparts,” President Trump said in a statement. “These practices plainly constitute a grave threat to the long-term health and prosperity of the United States economy.”

There were reports that the latest levies would exclude many high-tech items such as popular products from Apple.

“Just earlier this month, actually, Apple said that if this latest round – the $200 billion round – goes through, it would hit several of their most popular products, including Apple Watch, AirPods – the wireless headphones – and some other devices, and it looks like the administration took them at their word and gave them a little reprieve,” said Bloomberg White House editor Alex Wayne.

Wayne noted that Apple chief executive officer Tim Cook has developed a personal relationship with the president, having had dinner with Trump and his wife, Melania at Trump’s Bedminster, New Jersey golf club in August.

The leaders of some other major manufacturers such as Ford have also been trying to get Trump to back off on tariffs.

Meanwhile, one of China’s most prominent figures in global finance said before the latest tariff announcement that Beijing should press Washington to end their tariff battle by clamping down on exports of goods needed by American companies, according to news reports Monday.

The comments by Lou Jiwei, a former finance minister and chairman of China's sovereign wealth fund, follow reports regulators are squeezing American companies by slowing down customs approvals and stepping up environmental and other inspections.

Also Monday, an official newspaper called for more aggressive measures to "make American pain worse" following tariff hikes by both sides on $50 billion of each other's goods.

Speaking Sunday at an economics forum, Lou said Beijing should disrupt supply chains of American companies that rely on China's vast manufacturing industries, the website reported.

China's "counterattack strategy needs to restrict exports to the United States as well as (imports of) U.S. goods," Lou was paraphrased as saying.

"Only knowing the pain of fighting will stop the war and cause (the United States) to negotiate seriously," said Lou.

(© 2018 WCBS 880. The Associated Press contributed to this report.)