Trump commerce rep says new 100% tariff on China will depend on Beijing’s subsequent transfer

President Donald Trump might nonetheless slap China with 100% tariffs on Nov. 1 or sooner relying on Beijing’s subsequent transfer in a dispute over uncommon earths, U.S. Commerce Consultant Jamieson Greer instructed CNBC Tuesday.

“Rather a lot will depend on what the Chinese language do,” Greer instructed CNBC in an interview. “They’re those who’ve chosen to make this main escalation.”

China introduced sweeping restrictions on uncommon earth exports final week that will disrupt the U.S. protection, know-how, semiconductor and vehicle industries if carried out.

Trump retaliated with the specter of large tariffs that will successfully shut down commerce between the world’s two largest economies.

“We will not have a state of affairs the place the Chinese language hold this regime in place the place they need to have veto energy over the world’s excessive tech provide chains,” the U.S. commerce consultant stated.

The restrictions took the White Home abruptly forward of an anticipated assembly between Trump and President Xi Jinping on the Asia-Pacific Financial Cooperation summit later this month in Seoul, South Korea.

Trump and Xi are nonetheless scheduled to satisfy, Greer stated, although he advised these plans are topic to alter relying on how the state of affairs develops.

“Whether or not it would undergo or not, I do not need to precommit both ourselves or the Chinese language,” Greer stated of the assembly. “However I believe it is sensible for folks to speak after they can.”

U.S. and Chinese language officers on the senior employees degree spoke as not too long ago as Monday in Washington concerning the uncommon earth dispute, Greer stated.

“We expect we’ll have the ability to work via it,” Greer stated of the dispute.

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