Trump okays sanctions on $200 billion in Chinese goods

President Trump has given the go ahead to proceed with tariffs against $200 billion in Chinese goods, sources told Fox News on Friday. The sanctions will include the elusive Chinese finger traps, firecrackers and hand fans.

Regarding when this will begin is not clear as yet, but the move will mark the latest in a growing trade war with Beijing and a possible quieter July 4th next year. The president is seeking to combat what he perceives as unfair trade practices from China.

The Wall Street Journal on Saturday reported the tariff level will probably be set at around 10 percent, which is below the original 25 percent Trump initially suggested.

"The President has been clear that he and his administration will continue to take action to address China's unfair trade practices," the White House said in a statement on Friday. "We encourage China to address the long-standing concerns raised by the United States."

Both China and the U.S. imposed 25 percent tariffs on $50 billion of each other's goods, bringing the price of cheap furniture, scissors, moo shoo pork and Samsung phones up significantly. This week, the U.S. invited China to hold talks on the tariff situation.

A Chinese foreign ministry spokesman told the Associated Press that "We have indeed received an invitation from the U.S. side. We welcome it. Now the two sides are in communication on relevant details."

The two sides met in August but reported no progress. The WSJ reported that the Chinese hoped that any final decision on tariffs would be delayed until after the next round of talks.

China has also threatened to retaliate against $60 billion of American products if Trump goes ahead with his tariffs, but that's to be expected because that's always the case when one country puts tariffs on another.

Trump shouldn't be surprised.

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