U.S. Considers 7.5% Overcapacity Tariffs on Chinese Products Before Xi-Trump Talks
The U.S. government is considering imposing an additional 7.5% tariff on Chinese products over 'overproduction' ahead of the Trump-Xi summit. This move is part of the Trump administration's strategy to pressure China without breaking the existing trade truce. If implemented, the total U.S. tariffs on Chinese products under Trump's second term would reach about 20%.
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It is reported that the U.S. government is considering imposing an additional 7.5% tariff on Chinese products over 'overproduction.' This move comes as the U.S. and China prepare for the summit between President Donald Trump and Chinese President Xi Jinping, and is seen as an effort to increase pressure on China without breaking the trade truce between the two countries. Bloomberg reported on the 24th (local time) that multiple sources indicated the Trump administration plans to impose a 7.5% 'overproduction tariff' on Chinese products before the summit. If implemented, this would bring the total U.S. tariffs on Chinese products under Trump's second term to about 20%, which aligns with the level China has stated it complies with the existing U.S.-China trade truce. The U.S. has argued that China is flooding the global market with low-cost products that are overproduced with government support in sectors such as automobiles, steel, and solar energy. The Trump administration began investigations into major trading countries, including China, under Section 301 of the Trade Act in March, citing these issues. The Trump administration is set to...
US eyes China overcapacity tariffs of 7.5% before Xi-Trump talks, Bloomberg News reports Reuters
US Eyes China Overcapacity Tariffs of 7.5% Before Xi-Trump Talks Bloomberg