The US is set to impose an additional 7.5% tariff on Chinese goods for industrial “overcapacity” before September’s meeting between the country’s leaders, Bloomberg reported, as Washington attempts to step up protectionist measures without drawing a reprisal from Beijing.
The hike would keep US duties on China to around 20%, which Beijing has signaled is consistent with the countries’ trade deal.
Washington has in recent weeks accused more than 40 countries of abetting Chinese tariff busting through “illegal transshipment” — an allegation that amounts to a “redefinition of trade,” an expert told The Economist — as both sides hunt for pact-compliant trade leverage ahead of next month’s summit.