US considers 7.5% China tariff before possible Trump Xi meeting
Business
The US is considering a 7.5% tariff on goods from China, hoping to address industrial overcapacity without upsetting the fragile trade truce with Beijing.
This comes as President Trump and President Xi might meet in late September.
US probes unfair trade, China surplus
This tariff idea is part of a bigger push by the US to investigate unfair trading worldwide, including with the European Union, India, and Japan.
China's exports (think steel, solar panels, EVs) led to a massive nearly $1.2 trillion surplus last year.
Beijing says it isn't purposely flooding markets or aiming for such big surpluses.
US plans sanctions targeting Iran trade
The US also plans new sanctions against countries doing business with Iran, China is Iran's biggest trading partner, so there's even more at stake in these upcoming talks.