The Trump administration is preparing a new round of tariffs
on Chinese goods worth $200 billion, intensifying the tension between the two countries. On Tuesday, US Trade Representative Robert Lighthizer released a list of thousands of additional goods that could face 10% tariffs after a public comment period .
“Despite the serious economic consequences of ever-increasing tariffs, today there are no serious trade deliberations passing between the US and China , no plans for trade negotiations anytime soon, and seemingly little action toward a answer, ” Brady told .
Brady warned that the trade dispute could progress to a “long, multi-year trade war between the two great economies in the world that engulfs more and more of the globe.”
This goes a week after the US enforced 25% tariffs on Chinese goods worth $34 billion and Beijing retaliated with a tariff on US goods worth $34 billion that targeted US cars and major agricultural goods .
China’s Commerce Ministry told Wednesday that the Trump administration’s announcement of new measures was “unacceptable” and warned that China would have to respond with “necessary countermeasures, ” without details .
House Speaker Paul Ryan presented is supportive of Brady’s suggestion Wednesday, telling reporters on Capitol Hill that he believes it’s a “good idea” for Trump and Xi to have a one-on-one .
Ryan used to say while the US should confront China about its unfair trade practices, he does not think “tariffs are the right mechanism to do that.”
Read more: https :// www.cnn.com/ 2018/07/ 11/ politics/ house-republican-kevin-brady-trump-xi-china-tariffs/ index.html