Daily Management Review

US going to increase Trump tariffs for China in 2019


11/16/2018


The United States still plans to increase import duties on Chinese goods worth $ 200 billion in January 2019 from 10% to 25%, said US Commerce Secretary Wilbur Ross in an interview with Bloomberg.



pixabay
pixabay
According to him, at the upcoming meeting, US President Donald Trump and Chinese President Xi Jinping will at best agree on the basis for further negotiations to resolve trade tensions. (It is expected that the two leaders will meet in the framework of the G20 summit, which will be held in Buenos Aires on November 30 - December 1).

"We definitely will not have a full-fledged formal deal by January," the minister said. “We can’t expect the two presidents to get intimate details - how much LNG and how much and so on. The situation as a whole will be discussed, but if everything goes well, the foundation for the future will be laid,” Ross continued.

“In the end, the agreement will be concluded, and the fact whether it will be signed at the big meeting or during a tête-à-tête of the two presidents is not so important,” said the head of the US Ministry of Trade.

At the same time, he avoided answering the question whether preparation of imposing duties on the import of automobiles and auto components is going on. According to Ross, Trump will decide whether to introduce such measures when the right moment comes.

After the news about the upcoming negotiations in Argentina was published, it was reported that China had planned concessions to certain US requirements, and American manufacturers began to hope that Trump would not raise duties from January 1, as was announced in September.

source: bloomberg.com






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