Thursday, 15 November, 2018

Trump preparing additional tariffs on $200B in Chinese goods

The American flag flies near the national emblem of China outside of the Bayi Building before a welcome ceremony for U.S. Defense Secretary Jim Mattis in Beijing Trump preparing additional tariffs on $200B in Chinese goods
Jean Garcia | 11 July, 2018, 02:35

According to the Ministry of Commerce, China considered the substitution of imports and the overall impact on trade and investment while making up a list of U.S. goods hit by import duties. On Friday, Beijing retaliated with mirror measures against U.S. imports hours after Washington introduced 25 percent trade tariffs on $34 billion worth of Chinese goods.

The list includes agricultural products, minerals and consumer goods such as handbags, among other items.

The White House has complained that China has used predatory practices in a relentless push to grant Chinese companies an unfair advantage in the industries of the future, including robotics, electric cars and biopharmaceuticals.

Many others in the USA are already feeling the effects of the tariffs. China responded with levies of its own, targeting $34 billion in US products such as pork and whiskey.

Senate Finance Committee Chairman Orrin Hatch, R-Utah, responded to Lighthizer's announcement with dismay.

"Special Report" panel reacts to the strategy behind the Trump administration's new charges on Chinese products.

Liu Xia, wife of late dissident Liu Xiaobo, leaves China for Germany
The Chinese-language report said Liu Xia was aboard a Finnair flight that departed from Beijing at 11 a.m. (0300 GMT). Liu Xiaobo died of liver cancer in July 2017 in Chinese custody, having been jailed in 2009 for inciting subversion.

Administration officials said they hoped the measures would convince the Chinese government to increase market access for USA companies and address allegations of the theft of intellectual property.

The International Monetary Fund has warned that a full-blown trade war could undermine the broadest global upswing in years.

"The Trump administration is gambling that by wielding such a big club, it will force China to back down", said Edward Alden, a senior fellow at the Council on Foreign Relations.

It said Corning was among the companies that would be affected by the higher duties.

Trump has been considering tariffs against China since his officials concluded in March that Beijing violates USA intellectual-property rights, such as by forcing American firms to hand over technology.

President Donald Trump has already ordered tariffs on another $16 billion in Chinese exports for later this summer, after the comment period on the American list closes, and China will retaliate again.

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