President Donald Trump is set to announce new tariffs on some $200 billions in Chinese goods as early as next week in a move that could risk deepening the trade war between the two economic powers. Sources told the Wall Street Journal an announcement is being planned for Monday or Tuesday. The move would amount to “one of the most severe economic restrictions ever imposed by a U.S. president,” points out the Washington Post.
The tariffs would take effect within weeks and would be lower than initially expected. Although the administration had said it was considering a tariff level of 25 percent, it will probably be about 10 percent. But officials warned Trump could decide to hike the tariff level up to 25 percent again if he feels China isn’t showing progress to change its economic policies.
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