US to force duties on $200 bn in Chinese merchandise: reports

BUSINESS

WASHINGTON: US President Donald Trump has chosen to force levies on $200 billion in Chinese imports and could make the declaration in the coming days, US media detailed.

Refering to mysterious sources, The Washington Post and The Wall Street Journal announced that the taxes would be set at 10 for each penny.

Trump has effectively forced 25 for every penny duties on steel imports and 10 for every penny on aluminum, and 25 for every penny on $50 billion in products from China.

The possibility of new levies undermines any desires for an up and coming decrease in exchange strains among Washington and Beijing.

On Thursday, China had respected a US offer to hold new exchange talks, giving some expectation the world’s main two economies could venture once again from the verge of a hard and fast exchange war.