US President Donald Trump is set to announce the package of tariffs against Chinese goods on Thursday, a day earlier than rumored. It’s believed that the total amount of targeted goods adds up to USD 30-60b. We believe that it will be on the higher side on the range. Additionally, there will be new restrictions on Chinese investments in the US. Treasury will be directed to outline the rules regarding Chinese investments.
But, it’s reported that the tariffs won’t take effect immediately. Instead, businesses are given a chance to comment on the list of tariffed products. The final decision will come after industry input. This is seen as an act of Trump bowing down to pressure from business leaders. Earlier this week, 45 of largest American trade groups wrote an open letter to Trump, warning Trump not to respond to unfair Chinese practices and policies by measures that will “harm U.S. companies, workers, farmers, ranchers, consumers, and investors.”
