Friday, 20 July, 2018

US to impose tariffs on $200bn of Chinese imports

European exporters shift trade to avoid higher US tariffs China urges domestic firms to boost non-American imports as trade war with US escalates
Steven Clarke | 11 July, 2018, 02:52

The tariffs could take effect after public consultations end on August 30, according to a statement from the U.S. Trade Representative's office Tuesday.

President Donald Trump last month threatened additional tariffs against China if it retaliated.

The Trump administration announced Tuesday that it had has begun the process of implementing fresh tariffs on $200 billion worth of imported Chinese goods.

The list of goods affected by the new tariffs includes seafood, fruits and vegetables, grains and tobacco.

The move drew immediate condemnation from Senate Finance Chairman Orrin Hatch, a Republican from Utah, who called it "reckless" and not "targeted".

Trump preparing additional tariffs on $200B in Chinese goods
The list includes agricultural products, minerals and consumer goods such as handbags, among other items. China responded with levies of its own, targeting $34 billion in US products such as pork and whiskey.

"China is forced to strike back to safeguard core national interests and the interests of its people", the Commerce Ministry said in a statement to CNN last week.

Some countries have already announced retaliatory tariffs and other moves that USA industries have said forced them to curb plans for expansion and investments overseas.

US Trade Representative Robert Lighthizer said the United States would impose tariffs of 10 per cent on the additional Chinese imports. China has vowed to retaliate dollar-for-dollar to any further USA tariffs.

The move came just days after the administration levied its previous tariffs package, valued at around $34 billion, against Chinese imports.

The U.S.is pursuing a new set of tariffs that would hit $200 billion in Chinese goods, according to senior administration officials. But Trump hasn't backed down, arguing that China's unfair trading practices are hurting American workers.

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