Trump Administration Says More China Tariffs Could Be Imposed
The taxes could come in December
Faced with a formal impeachment inquiry ahead of his re-election bid, President Donald Trump was swift to assert that the US had made "very substantial" progress on trade with China last week. But American businesses and investors saw little refuge ahead from a 19-month tariff dispute between the largest economies.
On Oct. 11, 2019, the White House announced China would increase agricultural purchases, pursue unspecified changes to its currency and intellectual-property rules and open up access to financial-services markets. In return, the U.S. postponed additional tariff increases that had been scheduled for this week.
Yet, those agreements have not been put on paper by either side. Early Monday, Treasury Secretary Steve Mnuchin confirmed that the preliminary pact was "subject to documentation" and that the U.S. could still follow through with plans to slap additional import taxes on virtually all imports from China in December.
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