US expected to delay new excess capacity tariff announcement until after Trump-Xi summit: report
WASHINGTON — U.S. President Donald Trump's administration is expected to postpone the announcement of new tariffs over trading partners' alleged excess capacity in manufacturing sectors until after the planned summit between Trump and Chinese President Xi Jinping next week, a report said Thursday. Citing people familiar with the matter, Bloomberg reported on the expected delay, noting that the…
The Trump administration is reportedly planning to postpone the announcement of new tariffs on trading partners' alleged excess manufacturing capacity until after the upcoming summit with Chinese President Xi Jinping, according to a report on Thursday. Bloomberg cited anonymous sources familiar with the matter, noting that the reason for the delay remains unclear.
The administration had initially intended to publish a trade report on excess manufacturing capacity ahead of the Trump-Xi summit, which was scheduled to take place in Washington on September 24, more than four months after their previous meeting in Beijing. Earlier reports suggested the tariff recommendation would stand at 7.5 percent on Chinese products.
In March, the administration initiated a trade investigation into South Korea, China, Japan, and thirteen other economies to uncover unfair trade practices related to structural excess capacity and production, which could potentially result in tariffs. The same month, the administration also commenced a separate investigation.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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