Trump is moving toward levying a new tariff on China that would penalize the world’s second-largest economy for, what the U.S. administration claims, flooding the global market with underpriced goods, reports Aamer Madhani at AP.

Trump is considering setting the new tariff at 7.5%, a level administration officials believe would not endanger the one-year trade truce between Washington and Beijing or a planned White House meeting between Trump and Chinese President Xi Jinping expected to take place in late September.