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Trump approves USD 50 billion tariff on Chinese goods

Press Trust of India  |  Washington 

US has approved tariffs worth USD 50 billion on import of goods from

A formal announcement in this regard is expected to be made by the US Trade Representatives today with a notification in the Federal Register in the coming weeks. The move is likely to attract retaliatory action by

Trump's approval in this regard followed a 90-minute meeting he had with Wilbur Ross, and US Trade Representatives yesterday. The meeting also included representatives of the

Following the decision, Congresswoman said tariffs must be seen as one tool among many the US could use to hold bad actors like accountable and bring the to the table to secure a more favourable balance of trade.

"We cannot allow the recent chaos to continue and risk further damage to our standing in the world. That is why I am calling on Trump to fight for American jobs with a comprehensive strategy that puts American economic interests front and centre," she said.

DeLauro said the Trump Commerce Department's disorderly implementation of failed to inspire confidence in the President's ability to appropriately hold the trading partners accountable.

"That is why I will continue to call for a meaningful strategy to address our deep trade deficit with China that has led to outsourcing of well-paying American jobs," she said.

"To make matters worse, Trump rolled back sanctions on Chinese firm after the company sold critical technology to and North Korea, and lied to US security officials about it. President Trump should be focused on American jobs, not China's," the lawmaker said.

A report warned that the US decision could become the start of a tit-for-tat series of retaliatory moves. If the US hits China with tariffs, China will immediately retaliate with tariffs, said a Chinese "We hate unilateral actions," the was quoted as saying.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 15 2018. 08:30 IST
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