Chinese Product Tariffs

As you may be aware, yesterday President Trump announced that he plans to increase tariffs on US$200 billion of Chinese product from 10% to 25%. Citing ongoing delays on key issues including intellectual property and technology transfer, the President noted that the new tariffs would go into effect “shortly.”

Following high-level talks in Beijing last week with U.S. Trade Representative, Robert Lighthizer and Treasury Secretary, Steven Mnuchin, President Trump cited slow progress in finalizing terms and attempts by the Chinese to renegotiate as the catalysts behind his latest move in the U.S.-China Trade War.

Still, Chinese Vice Premier Liu will be leading a delegation of more than 100 officials from over a dozen government agencies to Washington to resume talks this Wednesday; a sign that Beijing believes final details can be ironed out in the near term.