Trade war: USD 16 billion in Chinese goods now under US import tariff

Trump has pushed aggressive trade actions to lower the US trade deficit, which he equates with theft from Americans.

China to send negotiator to US for trade talks this month

The two countries plan to launch a new round of tit-for-tat tariffs on USD 16 billion worth of goods from each country on August 23.

Trump has instructed his trade officials to look at increasing tariffs to 25 per cent from 10 per cent on USD 200 bn in Chinese imports.

India is the only South Asian nation to feature on the US list of Strategic Trade Authorization-1 (STA-1) countries.

Suresh Prabhu said he held discussions with US commerce secretary Wilbur Ross and USTR Robert Lighthizer.

He said the meeting of the officers might take place by the end of this month.

Ross, who said he expected them to go into effect in the coming week, played down the impact on the US economy of retaliatory measures.

Paradise Papers also reveal that Russian companies with links to the Kremlin invested millions of dollars in Twitter and Facebook.

The findings have emerged as part of the Paradise Papers released by the US-based International Consortium of Investigative Journalists.

Ross is understood to have said the Trump administration's objective is to have a merit-based immigration policy.