Donald Trump is likely to announce new tariffs on Chinese imports as early as Monday, according to a senior administration official, speaking to Reuters.
The tariffs will be on about $200bn-worth of goods, including internet tech products and other electronics, and consumer goods including Chinese seafood, furniture, plastics, and bicycles.
The Wall Street Journal reported the tariff level will probably be about 10 percent, which is below the 25 percent the administration said it was considering.
The Trump administration has already levied duties on $50bn worth of goods.
But this week the world's two biggest economies looked like they were making progress on trade; fears of a trade war calmed after the Treasury invited senior Chinese officials for more talks, and Beijing welcomed the step.
Sources tell Reuters that the United States and China have started to outline commitments in principle on the stickiest issues in their trade dispute, marking the most significant progress yet toward..
TOKYO (Reuters) - Asian stocks advanced to 4-1/2-month highs on Wednesday as investors bet that Chinese and U.S. trade negotiators would be able to secure a deal to de-escalate their year-long tariff..