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Trump, China trade war: tariffs on all Chinese goods if Xi talks fail



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Spencer/Getty; Win McNamee/Getty; Shayanne Gal/Business

  • The US is preparing tariffs on all remaining Chinese imports
    to the US and could announce the move as soon as December,
    according to a new Bloomberg report.
  • The tariffs could be announced in the event that talks
    between US President Donald Trump and Chinese President Xi
    Jinping at the G20 summit in late November do not help ease the
    US-China trade war.
  • The tariffs would apply to roughly $257 billion worth of
    Chinese goods and likely increase prices for US businesses and

The Trump administration is preparing to take the trade war with
China to a fever pitch if talks between President Donald Trump
and Chinese President Xi Jinping fail to deescalate the fight,
according to a new report.

Bloomberg reported
Monday the Trump administration is
readying tariffs on all remaining Chinese goods coming into the
US and could announce the move as soon as early December. The
announcement could cover an additional $257 billion worth of
Chinese imports to the US, adding onto the $250 billion worth of
goods already subject to additional duties.

Trump and Xi could still avoid the escalation of trade war,
Bloomberg said, if talks at the G20 meeting in Argentina at the
end of November are productive. If those talks fail, the final
round of tariffs could go into effect in February — just in time
for the Chinese Lunar New Year celebration.

When asked about the report during the press briefing Monday
afternoon, White House Press Secretary Sarah Sanders declined to
elaborate and only said that she hoped the meeting between Trump
and Xi goes well.

The final list of goods would largely
hit consumer products and capital goods
, which the Trump
administration has so far spared, and likely would push up prices
for many US businesses and consumers.

Economists and US companies have warned that the increased costs
from the tariffs could hurt the American economy.

Following the Bloomberg report, US stock indexes slipped into the
red for the first time on Monday. The Dow Jones industrial
average was down 185 points, or 0.75%, as of 2:03 pm ET, the
tech-heavy Nasdaq was down 111 points, or just over 1.5%, and the
S&P 500 was down 2.5 points, or 0.1%.

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