Key facts
- The U.S. is preparing to impose a 7.5% tariff on Chinese goods.
- The tariffs are a response to allegations of China's excess manufacturing capacity.
- The move is anticipated before a summit between U.S. President Donald Trump and Chinese President Xi Jinping.
- The report cites people familiar with the matter.
The United States is reportedly preparing to implement a 7.5% tariff on goods from China, citing concerns over excess manufacturing capacity. This action is anticipated to occur before a scheduled summit between U.S. President Donald Trump and Chinese President Xi Jinping next month. The report, citing individuals familiar with the matter, was published by Bloomberg News. Reuters could not immediately verify the report.