Trump expected to announce China tariffs next week: report

Trump expected to announce China tariffs next week: report
© Greg Nash

President TrumpDonald John TrumpSchiff pleads to Senate GOP: 'Right matters. And the truth matters.' Anita Hill to Iowa crowd: 'Statute of limitations' for Biden apology is 'up' Sen. Van Hollen releases documents from GAO investigation MORE could announce wide-ranging tariffs on imported Chinese goods as early as next week, The Associated Press reported.

The tariffs could affect a large range of consumer goods, although the size and scope are yet to be finalized.

Recent reports suggest that Trump wants to target upward of $60 billion in Chinese products, which the U.S. Chamber of Commerce has said would be “devastating," the AP reported.

The White House wants to reduce the trade deficit with China. Trump tweeted earlier this month that "China has been asked to develop a plan" to reduce its deficit by $100 billion.

The tariffs would come at the recommendation of Commerce Secretary Wilbur RossWilbur Louis RossDesperate Democrats badmouth economy even as it booms Trump scheduled to attend Davos amid impeachment trial Let's remember the real gifts the president has given America MORE and adviser Peter Navarro, according to the report.

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Similarly, incoming director of the White House National Economic Council Larry Kudlow has said that China merits a “tough response” from the U.S. and its allies, the AP reported.

Trump tapped Kudlow earlier this week to replace economic adviser Gary Cohn. Cohn said he would be leaving the White House after Trump announced sweeping tariffs on imported steel and aluminum earlier this month.

While Trump has found support for his new tariffs in parts of the White House, they are largely disliked by many groups, including many members of his own party.

Republican leaders have asked the president to narrowly target any tariffs and exempt U.S. allies.

China is expected to respond to tariffs with higher import taxes on U.S. goods. Some predict that China will target goods that affect the U.S. economically and politically, the AP reported.