SEE-August1st: Trump administration advisers plan to propose 25% tariffs on Chinese imports worth $200 billion, a familiar source to the plan told CNN.
The source said that decision is potentially changeable, the final move will not be until late August.
US has imposed 25% tariffs on Chinese goods worth $34 billion; China immediately responded with its own tariffs on US goods worth $34 billion.
The second round of tariffs worth $16 billion could take effect as soon as this week. The tariffs target consumer goods including, food as well as machinery.
"The two sides have agreed that their initial offers weren’t a solid base for further negotiations," Mr. Mnuchin, senior member of the U.S. business community tracking the discussions said last week.
He added, "They are discarding useless ideas and rhetoric, they are figuring out what could be on an agenda and what solutions could be adopted."
Follow the latest news on Google News
