CHINA/TARIFFS/TRADE DEALS/TRUMP AS PRESIDENT: “The White House, looking to ratchet up trade pressure on China, is expected to announced today that it is more than doubling the size of the proposed tariffs to 25% from 10% on $200 billion of Chinese imports, industry sources said. White House spokeswoman Sarah Sanders said there would be a conference call on China at 3:30 p.m. Trade talks between the U.S. and China have stalled in recent weeks, with the two sides engaged in tit-for-tat retaliation. So far the U.S. has imposed tariffs on $34 billion in Chinese goods, mainly machinery and components, and China has retaliated with tariffs on the same amount of U.S. goods, especially farm products. The U.S. has also said it would hit China with tariffs on another $16 billion of goods shortly, and China has said it would retaliate in kind. The U.S. had planned a 10% tariff for the proposed next round of tariffs on $200 billion of Chinese goods. Those proposed tariffs would be applied, for the first time, to a substantial number of consumer goods, including furniture, lamps, food and computers. The administration plans to raise that levy to 25%.”
–Bob Davis, “U.S. to Ratchet Up Proposed Tariffs to 25% on $200 Billion in Chinese Imports,” The Wall Street Journal, August 1, 2018 2:46 pm