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US Considers Increasing Tariff Rate On Second Set Of Chinese Goods To 25%
Aug 02, 2018

US President Donald Trump's administration is considering raising the proposed tariff rate on $200bn in Chinese goods to 25% from 10%, US Trade Representative(USTR) Robert Lighthizer said on Wednesday.

The 25% duty would apply to the list of products the USTR announced on 10 July, which includes a large portion of petrochemicals and other oil products.

The American Chemistry Council(ACC), which has repeatedlly urged the Trump administration not to engage in a trade war, said the proposed increase would be devastating for US chemical manufacdturers.

"Small and mediu-sized enterprises in particular are at risk of being put out of businesses by a cost-increase of that kind," ACC president Cal Dooley said. " We implore the President to let this be the final provocation and negotiate with China to bring an end to this trade war."

The first round of US tariffs on $34bn on Chinese goods began on 6 July, China responded with proportional tariffs on US goods.

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