Trump increases tariffs as China trade talks falter
President Trump’s increased tariffs on $200 billion in Chinese imports took effect as of 12:01 Eastern time Friday, escalating tensions with Beijing.
The Trump administration raised the import taxes on the goods from 10% to 25%. China has threatened to retaliate if Trump proceeded with his threat to raise those tariffs.
The Trump team is intensifying its trade war with Beijing, which it says reneged on commitments it had made in earlier trade talks. The tariff increase took effect even after negotiators for the two sides resumed talks Thursday in Washington.
The talks were due to resume Friday after wrapping up without any word on progress.
The higher import taxes won’t hit goods that already left Chinese ports before Friday’s deadline. Only when those shipments complete the three- to four-week voyage across the Pacific to the U.S. would they face the 25% tariff.
The talks in Washington were thrown into disarray this week after top U.S. trade negotiator Robert Lighthizer and Treasury Secretary Steven Mnuchin accused the Chinese of reneging on commitments they’d made earlier.
The countries are sparring over U.S. allegations that China steals technology and pressures American companies into handing over trade secrets, part of an aggressive campaign to turn Chinese companies into world leaders in robotics, electric cars and other advanced industries.
The setback was unexpected. Through late last week, Trump administration officials were suggesting that negotiators were making steady progress.
U.S. officials say they got an inkling of China’s second thoughts about commitments in talks last week in Beijing, but that the backsliding became even more apparent in exchanges over the weekend. They wouldn’t identify the specific issues involved.
On Sunday, President...