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Ahead of the U.S.-China summit coming up in September, the U.S. government plans to impose a 7.5% "overcapacity" tariff on China, Bloomberg reported, citing anonymous sources.
With the addition of this tariff, the tariff rate imposed on China by the second Donald Trump administration will rise back to around the 20% level.
Bloomberg noted that China has previously stated that this level aligns with a trade truce agreement with the United States.
Bloomberg evaluated that this tariff imposition is an attempt by President Trump to revive protectionist policies without escalating trade tensions beyond agreed limits, following the U.S. Supreme Court's ruling that import tariffs were unconstitutional.
Sources stated that the exact tariff rate has not yet been finalized.
Because President Trump has frequently changed trade-related announcements at the last minute or made new demands, the actual figures are subject to change.
One official stated that among the options currently under discussion is announcing a higher tariff rate on China while deferring the imposition of certain tariffs to lower the effective tariff rate to 7.5%.
Details regarding the tariff rates subject to deferral and the deferral period are still under discussion.
The United States and China are also exploring ways to extend their one-year trade truce agreement, which is set to expire on November 10, according to sources.
Last March, the Trump administration launched investigations into more than a dozen major trading partners under Section 301 of the Trade Act of 1974, citing the issue of excess production capacity.
U.S. government officials hope that President Trump and Chinese President Xi Jinping will release the results of this investigation before their summit in Washington on September 24.
Asked about the tariff plans, a White House official responded that any announcements will be made directly by the administration, and current reports or discussions should be regarded as unfounded speculation.
Section 301 of the U.S. Trade Act stipulates that, upon the president's instructions, the Office of the United States Trade Representative (USTR) can impose tariffs if it determines that another country's trade practices discriminate against U.S. businesses or violate U.S. rights under international trade agreements.
However, moves to impose tariffs based on this provision are already facing legal challenges.
A coalition of 25 states, including New York, California, and Illinois, filed a lawsuit earlier this month in the U.S. Court of International Trade.
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