WASHINGTON D.C. (News4Utah)- The Trump Administration says it’s considering imposing new, steeper tariffs against China.
Commerce Secretary Wilbur Ross says so far tariffs– and threats of more tariffs– have not jump-started trade talks between the U.S. and China.
So, the White House is raising the stakes and threatening to impose new, even harsher tariffs against $200 billion worth of Chinese products bound for the U.S.
“The purpose of the tariffs is to try and get China to modify its behavior,” Ross said.
Ross says the idea is to pressure Chinese leaders to re-negotiate trade deals, but experts fear China will stand firm; putting the pressure on American consumers.
The National Retail Federation has warned the White House in a statement:
“Tariffs are an unacceptable gamble with the U.S. economy and the stakes continue to rise with no end in sight.”
Both Democrats and Republicans on Capitol Hill have praised the president’s tough approach to China, but many lawmakers say the U.S. and China need to reach a deal sooner rather than later.
“We’ve gotta get these issues resolved, nobody wants a trade war, and escalating tariffs can lead to that,” Sen. Rob Portman (R-Ohio) said.
Ross says he’s not worried about Chinese threats of retaliation. He says the U.S. has the upper hand.
“China will have run out of things to tariff because we don’t even sell them $200 billion worth of goods,” he said.
The White House says it is still weighing its options and has not said when a final decision on tougher tariffs will be made.