The U.S. trade war with China just got kicked up another notch.
The White House on Wednesday proposed a 25 percent tariff on $200 billion worth of Chinese goods, more than double the 10 percent tax rate originally planned.
U.S. trade representatives are trying to re-engage China in trade talks to de-escalate tensions between the two countries. Advisers reportedly told President Trump that China's authorities would be more likely to yield if higher tax rates were imposed.
Last month, the administration imposed a 25 percent tariff on $34 billion worth of Chinese goods, mostly machines and components. When Beijing immediately retaliated, Trump proposed additional taxes on $200 billion in importsーthis time affecting more consumer goods like furniture and computers.
Raising the proposed tax rate on those goods means extending the deadline for public comment on the plan from August 30 to September 5.
With a government shutdown five days away, Congress is moving into crisis mode as Speaker Kevin McCarthy faces an insurgency from hard-right Republicans eager to slash spending even if it means curtailing federal services for millions of Americans.
Rep. Andy Kim of New Jersey announced on Saturday that he will run against Sen. Robert Menendez in the state’s Democratic primary for Senate next year, saying he feels compelled to run against the three-term senator after he and his wife were indicted on sweeping corruption charges.
