The United States is studying how proposed tariff increases on roughly another $...
BEIJING/WASHINGTON - The United States is studying how proposed tariff increases on roughly another $300 billion in Chinese imports will affect consumers and is at least a month away from enacting them, U.S. Treasury Secretary Steven Mnuchin said on Wednesday.
“There won’t be any decision probably for another 30 to 45 days,” Mnuchin said at a hearing with U.S. lawmakers, adding that he had spoken with Walmart Inc’s chief financial officer about how the tariffs will impact consumer prices. No talks between top Chinese and U.S. negotiators have been scheduled since the last round ended on May 10, the same day Trump increased tariffs on $200 billion worth of Chinese goods to 25% from 10%.
The move is a potentially devastating blow for the company that has rattled technology supply chains and investors. “Today, on the new Long March, we must overcome various major risks and challenges from home and abroad,” state news agency Xinhua paraphrased Xi as saying, referring to the 1934-36 trek of Communist Party members fleeing a civil war to a remote rural base, from where they re-grouped and eventually took power in 1949.
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