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U.S. Prepares New Tariffs for China

China backs out of trade negotiations

On Monday, the Office of the U.S. Trade Representative published a list of over 3000 products from China that are slated for a new round of 25% tariffs. The U.S. and China have been in the midst of trade discussions since last week, but at the start of this week negotiations broke down as China announced that it would impose higher tariffs on most U.S. imports amounting to $60 billion worth of goods.

The United States has been pressuring China to change certain trade practices that are harmful to competition, including currency manipulation and patent infringement. President Trump stated that the back and forth between the two countries was not a big deal saying, “We’re having a little squabble with China.” President Trump has also stated that he is willing to continue to up the pressure with China to get a fair deal for American industries.

Sources: AP, Reuters, CNN
As the Lord Leads, pray with us:
  • For President Trump to be used by God to build relationships between the U.S. and China.
  • For the State Department to have clear communication with Chinese diplomats.
  • For a resolution to the trade negotiations that is fair for both sides.