The United States may jack up the tariff rate on the next US$200 billion in Chinese imports it plans to target as it pressures Beijing to reform its trade practices, US officials said on Wednesday (Aug 1). President Donald Trump has asked the US Trade Representative to consider increasing the proposed tariffs on Chinese imports as part of a plan to pressure Beijing into reforming its trade practices. (AFP Photo) President Donald Trump asked the US Trade Representative to consider increasing the proposed tariffs to 25 per cent from the planned 10 per cent, USTR Robert Lighthizer said. “We have been very clear about the specific changes China should undertake. Regrettably, instead of changing its harmful behavior, China has illegally retaliated against US workers, farmers, ranchers and businesses,” Lighthizer said in a statement. Officials however downplayed suggestions the move was intended to compensate for the recent decline in the value of the Chinese currency, which has threatened to take much of the sting out of Trump’s tariffs by making imports cheaper. The US dollar has been strengthening since April as the central bank has been raising lending rates, which draws investors looking for higher returns. “It’s important that countries refrain… Read full this story
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