CHINA/TARIFFS/TRUMP AS PRESIDENT: “The U.S. administration will give an update on its planned tariffs on goods from China later on Wednesday [8-1-18], White House spokeswoman Sarah Sanders said following reports that President Donald Trump was considering increasing the rate from 10 percent to 25 percent…The U.S. Trade Representative’s office has scheduled a media call at 3:30 p.m. (1930 GMT) to provide an update on its ‘Section 301’ investigation into China’s intellectual property and technology transfer practices, a basis for Trump’s threats to ultimately impose tariffs on over $500 billion of Chinese imports. So far, his administration has imposed a 25 percent tariff on $34 billion in Chinese imports and on Tuesday [7-31-18] completed a public comment period on an additional $16 billion in Chinese goods to be targeted for 25 percent tariffs, including semiconductors. Those tariffs could be implemented in the coming weeks. A source familiar with the matter told Reuters late on Tuesday that the administration planned to raise its proposed tariff rate on a subsequent round of $200 billion in Chinese imports to 25 percent from an initially proposed 10 percent. The move is seen as a way to put pressure on Beijing to accept trade concessions as part of talks to ease an escalating trade war between the world’s two largest economies.”
-Reuters Staff, “Trump officials to give update on China tariffs,” Reuters, August 1, 2018 11:08 am