Trump moving forward with additional $200 billion in tariffs on Chinese goods: report

President TrumpDonald John TrumpBill Kristol resurfaces video of Pence calling Obama executive action on immigration a 'profound mistake' ACLU says planned national emergency declaration is 'clear abuse of presidential power' O'Rourke says he'd 'absolutely' take down border wall near El Paso if he could MORE on Thursday told his aides to move forward with tariffs on $200 billion in Chinese goods, even as the administration seeks to restart trade talks with Beijing, according to Bloomberg News.

 

Treasury Secretary Steven MnuchinSteven Terner MnuchinThe next two years of federal housing policy could be positive under Mark Calabria The Hill's Morning Report - Presented by the American Academy of HIV Medicine - Will there be any last-minute shutdown drama? Trump mulling 60-day delay for China tariff deadline MORE this week proposed another round of talks with China in an effort to ease tensions in the escalating trade war that is raising concerns on Capitol Hill and throughout the business community.

 

Trump's strong desire to narrow the expanding trade gap with China has led to tit-for-tat tariffs of $50 billion imposed by each country. He has promised tariffs of $200 billion on China's imports, a move that's been delayed while officials determine a final list of products based on recently submitted public comments.

 

Trump met Thursday with his top trade advisers, including Mnuchin, Commerce Secretary Wilbur RossWilbur Louis RossHillicon Valley: Lawmakers press officials on 2020 election security | T-Mobile, Sprint execs defend merger before Congress | Officials charge alleged Iranian spy | Senate panel kicks off talks on data security bill Apple, IBM, Walmart join White House advisory board Supreme Court's ‘10th justice’ favors unusual tactic for Trump cases MORE and U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerTrump says no discussion of extending deadline in Chinese trade talks McConnell urges GOP senators to call Trump about tariffs Companies brace for trade war MORE, to discuss the China tariffs, Bloomberg News reported on Friday.

 

He expressed confidence this week that his sweeping tariffs plan will work.

 

"They are under pressure to make a deal with us," Trump tweeted on Thursday, referring to China. "Our markets are surging, theirs are collapsing. We will soon be taking in Billions in Tariffs & making products at home. If we meet, we meet?"

 

Trump has said he's using the tariffs as leverage to force China to change what he considers unfair trade practices, like stealing U.S. intellectual property and forcing U.S. firms to transfer their technology to China.

 

Last week, Trump threatened a third batch of tariffs on another $267 billion of Chinese imports, covering more than all Chinese exports to the U.S.