Trump to announce $200B in new tariffs on Chinese goods

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President Trump is planning to announce tariffs on about $200 billion in Chinese imports, The Wall Street Journal reported Saturday.

The levies will come at a rate of 10 percent, lower than the 25 percent the administration threatened earlier this year.

The Journal pointed out that smaller tariffs would decrease the effect on shopping costs for US consumers as the holiday season approaches — also noting the announcement will precede upcoming midterm elections in which the GOP is fighting to maintain control of Congress.

Meanwhile, US officials have scheduled meetings in Washington between Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He for later this month.

The Journal’s sources said final details of the tariffs have not been set in stone and some elements of the plan could change. They added Trump plans to keep his options open to increase the pressure on the Beijing.

A formal announcement is expected in the next day or two.

White House spokeswoman Lindsay Walters declined comment.

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