WASHINGTON: U.S. President Donald Trump's threat to jack up U.S. tariffs on Chinese goods if the world's two largest economies fail to reach a trade deal could raise the price of cellphones, laptops, and toys less than two weeks before Christmas.
White House advisers said last week the Dec. 15 tariffs would likely be averted if a"phase one" trade deal was reached. Trump's threat, and the markets' reaction, illustrate how volatile the trade talks between the United States and China remains, and how important they are to the global economy. Reinsch and other experts said they still expected Washington and Beijing to reach a"phase one" agreement before that point, but the timing was looking less certain.
A 15per cent tariff on about US$125 billion of goods that went into effect on Sept. 1, including flat-panel television sets, flash memory devices, smart speakers, Bluetooth headphones, bed linens, multifunction printers and many types of footwear, could also be increased, trade experts said.
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