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Trump administration confirms plan to raise China import tariff to 25 percent

Trump administration confirms plan to raise China import tariff to 25 percent© Reuters. Aerial view of containers at a loading terminal in the port of Hamburg

WASHINGTON (Reuters) – U.S. President Donald Trump’s administration is proposing a tariff rate increase on $200 billion worth of Chinese goods to 25 percent from 10 percent as the two countries continue conversations to determine whether trade talks can be resumed, senior Trump administration officials said on Wednesday.

The officials told reporters on a background call that Trump had directed U.S. Trade Representative Robert Lighthizer to consider the higher tariff rate as part efforts to ensure that it has “the right tools in place in order to encourage China to change its actions.”

The possible change in tariff rate will alter a public comment period for the proposed tariffs on $200 billion worth of goods ranging from Chinese tilapia fish to furniture and lighting products, extending a comment deadline to Sept. 5 from a previously announced deadline of Aug. 30, the officials said.

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Source: Investing.com

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