The Trump administration is getting ready to extend tariffs to all Chinese imports into the US if next month’s meeting between the US president and his counterpart Xi Jinping does not lead to a deal, sources told Bloomberg.
Following previous rounds of tariffs earlier this year, China has around $257 billion worth of exports yet to be affected by US duties. If the decision is made in December, the new levies can be expected to take effect in early February.
Trump and Xi are set to meet at the G20 summit in Buenos Aires next month, which if inconclusive will trigger a fresh round of tariffs from the White House, the sources said.
There is also the possibility that the role of trade will be heavily minimized in the talks, according to two sources.
“We are in the middle of a pretty nasty dispute. We’re in a trade dispute – I want to use that word because it’s a nice, soft word – but we’re going to win,” said Trump at a rally last weekend.