The United States is at least a month from enacting its proposed tariffs on $300 billion in Chinese imports as it watches the impact on American consumers, US Treasury Secretary Steven Mnuchin said on Wednesday, said Reuters.
Washington hiked existing tariffs on $200 billion in Chinese goods to 25% from 10% this month, prompting Beijing to retaliate with its own levies on US imports, delaying an end to the 10-month trade war between the world’s two largest economies.
“There won’t be any decision probably for another 30 to 45 days,” Mnuchin said in a hearing before the US House of Representatives Financial Services Committee.
The proposed timeline means the next levies could be ready around the time Trump is expected to meet Chinese President Xi Jinping at a G20 summit in Japan June 28-29.