US could raise tariffs on imports if China doesn’t comply with trade deals
Putting pressure on China, US president Donald Trump tweeted on Friday chances of raining tariff on $200 billion of Chinese goods from 10 per cent to 25 per cent. US and China are world’s largest economies and after President Trump unexpected jacked up pressure on China, clearly pepping up tension between the two nations.
Reports reveal that about a 100-member Chinese delegation was to accompany vice premier Liu He for trade talks in Washington starting this Wednesday, but as an after-effect China was considering cancelling the trip. The tweet is being considered to compel China to accept US demands. Trump has also threatened to slap tariff on all Chinese imports to the US worth $539.5 billion last year.
Quoting the reason for the hike, Trump wrote “The trade deal with China continues, but too slowly, as they attempt to renegotiate. No!”
He also wrote, “For 10 months, China has been paying tariffs to the USA of 25 per cent on 50 billion dollars of other goods.”
However, last week, the US had depicted the trade talks as going well. Trump is also insisting for structural changes such as Beijing ending its practice of forcing US companies that operate in China to share their technology and demanding stopping of intellectual property theft and subsidies to state-owned companies.
Trump’s office has also said that it has seen promises and commitments ignored in the past. In fact, even more tariffs could be imposed if no deal is reached or things are not rectified.