US Weighs 7.5% Additional Tariff on Chinese Goods Ahead of September Summit

The US is considering imposing an additional 7.5% tariff on Chinese goods, with China’s excess production cited as a key reason for the move.

Walter Bloomberg reported on Aug. 24 that the Trump administration is discussing the measure ahead of a September summit between US President Donald Trump and Chinese President Xi Jinping.

If imposed, the tariff would raise the cumulative rate applied to Chinese goods during Trump’s second term to about 20%. The specific rate remains under discussion and could still change.

The US and China are also negotiating whether to extend their trade truce. The current arrangement is scheduled to expire on Nov. 10.