White House chief economic adviser Larry Kudlow confirmed Wednesday that Mnuchin extended an invite to Chinese officials for a new round of talks. "The burden of the proposed tariffs will fall much more heavily on the United States than on China".
One observer in the business sector said the administration may have reduced its planned tariff level after hearing public comments, hoping companies would not immediately hike prices for consumer goods to pass along the costs. If imposed, those tariffs would bring the total imports from China subject to penalties to more than $500 billion.
Chinese Vice Premier Liu He (left) is expected to meet with Treasury Secretary Steven Mnuchin (right) in talks on September 27 and 28.
The Trump administration said last week it was ready to implement $200 billion on China, after the public comment period of that expired last Thursday.
The next round of USA tariffs on Chinese goods is likely to make thousands of products, including dishwashers, Fitbit fitness trackers and food seasonings, more expensive for American consumers, CNN reported.
Bloomberg reports that President Trump has told his top trade advisors that he "wasn't concerned" about their impact on negotiations with China.
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The green light for the tariffs, first reported by Bloomberg, initially dragged USA stocks lower, fuelled drops in the Chinese yuan in offshore trading and gains in the dollar index.
CNN quoted a White House spokeswoman, Lindsay Walters, saying, "The President has been clear that he and his administration will continue to take action to address China's unfair trade practices".
This year, imports from China through July were up almost 9 percent over the same period of 2017, according to US Census Bureau data.
The move came as both countries implemented tariffs this summer on $50 billion worth of goods from the other. The list of products mostly included industrial equipment to avoid directly hurting US consumers.
Administration sources said the tariffs are to be applied to goods including consumer items, electronics and clothing accessories such as handbags.
Trump has said the tariffs are necessary to punish Beijing for what he says are its unfair trade practices and intellectual property theft.