US President Donald Trump reportedly plans to raise the stakes in the US-China trade war by readying another round of tariffs on goods from China worth USD200 billion, according to CNN.
Released on July 10, the list of potentially affected products includes over 6,000 items ranging from food products to minerals and consumer goods.
Trump already imposed 25 percent tariffs on Chinese goods worth USD34 billion last week. China immediately responded by denying all accusations of unfair trade policies and imposing reciprocal 25 percent tariffs on US goods also worth USD34 billion.
Trump's tariffs are intended as punishment against China for "intellectual property theft." CNN reports that Trump initially threatened USD200 billion tariffs a month ago, instructing Trade Representative Robert Lighthizer to write up a list of goods to penalize if China retaliated.
Another wave of tariffs on Chinese goods worth USD16 billion is pending and is set to go into effect in less than two weeks. The tariffs announced Tuesday would be the third wave and would likely start after August 30. Trump has even threatened a fourth wave of tariffs, which could eventually result in duties on products worth up to USD500 billion (roughly equal to the total amount of imports from China to the US in 2017, according to Reuters).
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