US President Donald Trump is now seeking to impose steep tariff on import of a number of Chinese products in retaliation to the alleged theft of intellectual property by China, a media report said Tuesday.
Trump's instructions to his officials came at his Cabinet meeting last Thursday on March 8, the day he issued a proclamation to impose a 25 per cent tariff on import of steel and 10 per cent on aluminum.
Given that US has a trade deficit of USD 500 billion per annum, Trump asked a plan for targeting USD 100 billion Chinese imports.
Senior officials familiar with the new plan, said that the administration is considering on more than 100 Chinese products ranging from electronics and telecommunications equipment to furniture and toys, Politico said adding that the new tariffs are expected to be rolled out beginning as soon as next week.
The White House declined to comment. "We don't comment on internal meetings, but no final decisions have been made on content or timing," said a White House official.
In the last few days, China has warned US of retaliation.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)