More than 6,000 items could be affected - including burglar alarms, auto tyres, handbags, baseball gloves, carpets, toilet paper, dog food, and hundreds of food products. However, news outlets were reporting that Chinese officials were meeting to discuss ways to punish the United States. China has vowed to retaliate dollar-for-dollar to any further U.S. tariffs.
The United States had just imposed tariffs on Dollars 34 billion worth of Chinese goods on Friday, drawing immediate retaliatory duties from Beijing on U.S. imports in the first shots of a heated trade war.
"As in the past, the United States is willing to engage in efforts that could lead to a resolution of our concerns about China's unfair trade practices and to China opening its market to U.S. goods and services", he added.
"The United States has unveiled the list of tariffs in an escalating manner".
The office will accept public comments and hold hearings on the plan between August 20 and 23 before reaching a decision after August 31, according to a senior administration official who briefed reporters on condition of anonymity.
Industrial and metal companies, as well as chipmakers have been the worst hit since Trump first threatened tariffs in early March as they are largely reliant on China for businesses. Trump said in June that the United States would be willing to enact a fourth round of tariffs on goods worth $200 billion if China retaliated yet again.
"China has since retaliated against the United States by imposing tariffs on Dollars 34 billion in US exports to China, and threatening tariffs on another Dollars 16 billion".
Also Monday, German automaker BMW AG said it would raise prices on USA -built SUVs exported China due to higher tariffs.
An intensifying trade war has kicked off between China and the U.S.
China immediately retaliated with duties on the same value of us goods, including soybeans and cars.
It also said China would respond to the USA actions.
"The internal political dynamics in both countries make it unlikely that either side will stand down and offer conciliatory measures that could deescalate tensions and lead to a resumption of negotiations", Eswar Prasad, a professor of trade policy at Cornell University, said in an email.
"China has no option but to fight fire with fire".
Wall Street shares had gained for the past few sessions, enjoying a lull from the trade war fears that lashed global markets last week. "Imposing taxes on another $200 billion worth of products will raise the costs of everyday goods for American families". "It will also result in retaliatory tariffs, further hurting American workers", a Chamber spokeswoman said.