A former official at the U.S. Treasury department says the current tariff war between the United States and China is a threat to the global supply chain. (April 4) AP
WASHINGTON — President Trump is upping the ante in his high-stakes trade dispute with China, proposing $100 billion in additional tariffs on Chinese goods — on top of the $50 billion in tariffs put forward just two days ago.
The move comes a day after China responded in the back-and-forth trade war by matching Trump’s proposed tariffs with $50 billion of its own, targeting small aircraft and soybeans.
And late Thursday, Trump countered with instructions to U.S. Trade Representative Robert Lighthizer to consider using his authority under the Trade Act of 1974 to take additional actions against Chinese products.
“In light of China’s unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs,” Trump said in a…
