US Eyes China Overcapacity Tariffs of 7.5% Before Xi Visits (1)

The US is set to impose a 7.5% tariff on Chinese goods over allegations of excess manufacturing capacity before a planned summit between Xi Jinping and Donald Trump next month, according to people familiar with the matter. The move would restore Trump’s second-term duties on China to around 20%, a level Beijing has previously said is consistent with its trade truce with Washington. Those come on top of other levies imposed during Trump’s first term and extended during the Biden administration. It would mark the latest step by Trump to resurrect his protectionist trade agenda after the Supreme Court struck…