Trade War? President Trump Considering $100 Billion in New Tariffs on China

President Donald Trump is weighing another $100 billion in tariffs on Chinese goods, according to a statement issued Thursday. The announcement comes just after China threatened a 25 percent tax on a $50 billion dollar list of U.S. products ranging from soybeans to whiskey and cars.

“Rather than remedy its misconduct, China has chosen to harm out farmers and manufacturers,” it read. “In light of China’s unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs.”

STATEMENT FROM TRUMP: instructed ustr to consider another $100 billion in tariffs. pic.twitter.com/5k6WAsW4I7

— Jake Sherman (@JakeSherman) April 5, 2018

Trump also said he directed his Secretary of Agriculture “to implement a plan to protect our farmers and agricultural interests.”

“I am committed to enabling American companies and workers to compete on a level playing field around the world, and I will never allow unfair trade practices to undermine American interests,” the president said.

The move marks yet another escalation in the tariff battle between the U.S. and China as Trump contends that he’s not fighting a trade war.

China has stated that it doesn’t want a trade war, but that it will engage in one if provoked. The country noted that it has invited the U.S. to the discussion table, but that it has missed the opportunity to talk.

[Image via screengrab]

Follow Amy Russo on Twitter: @amymrusso

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