Key facts
- The U.S. is expected to delay the announcement of new tariffs on trading partners' alleged excess manufacturing capacity.
- The delay is anticipated until after the planned summit between President Donald Trump and Chinese President Xi Jinping.
- The summit between Trump and Xi is scheduled for September 24 in Washington.
- The Trump administration had previously intended to issue a trade report recommending a 7.5 percent tariff on Chinese products.
- The administration launched trade investigations into South Korea, China, Japan, and 13 other economies over unfair trade practices related to excess capacity.
- New tariffs of up to 12.5 percent were previously announced for South Korea, Japan, and 58 other trading partners over forced labor concerns.
The U.S. administration is expected to delay the announcement of new tariffs concerning alleged excess manufacturing capacity until after a summit between President Donald Trump and Chinese President Xi Jinping, according to a Bloomberg report citing people familiar with the matter. The meeting is scheduled for September 24 in Washington.
Previously, the administration had intended to release a trade report that would recommend a 7.5 percent tariff on Chinese products. The U.S. had also launched trade investigations into several economies, including South Korea, China, and Japan, over unfair trade practices related to structural excess capacity. In July, the Office of the U.S. Trade Representative (USTR) announced its decision to impose tariffs of up to 12.5 percent on South Korea, Japan, and 58 other trading partners due to forced labor concerns. These investigations and potential tariffs were pursued under Section 301 of the 1974 Trade Act, following the Supreme Court's invalidation of country-specific emergency tariffs in February.