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You are here News Economy Report: Trump to Authorize $50 Billion in New Tariffs Targeting China

Report: Trump to Authorize $50 Billion in New Tariffs Targeting China

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Trump okays $50B in tariffs on China

President Donald Trump approved tariffs on about $50 billion of Chinese goods, people familiar with the decision said, as the U.S. ratchets up its trade fight with Beijing over China’s alleged pressure on U.S. firms to transfer technology to Chinese partners.

The approval followed a 90-minute meeting on Thursday of senior White House officials, national-security officials and senior representatives of the Treasury, Commerce Department, U.S. Trade Representative’s Office.

It wasn’t clear when the tariffs would go into effect. Beijing has said that it intends to assess tariffs on a corresponding amount of U.S. goods.

USTR expects to announce the goods subject to tariffs on Friday and publish them in the Federal Register next week, the people familiar with the matter said. The affected imports would face 25% tariffs; the products are expected to be similar to those on a preliminary list that USTR released in early April.

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