USA tariffs on China: Trump administration adds $16 billion

Trump administration moves ahead with new round of tariffs on Chinese imports

Trump administration moves ahead with new round of tariffs on Chinese imports

On Tuesday, the Trump administration unveiled its own list of roughly $16 billion worth of imports from China that will be hit with 25% tariffs.

Last month, the United States imposed duties of 25% on Chinese imports worth $34bn.

The Trump administration has accused China of unfair trade practices, and President Donald Trump has long vowed to bring down the United States' trade deficit in goods with Beijing.

"We expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather than USA tariffs, the direct impact of which will continue to be mostly offset by the renminbi's (yuan's) recent depreciation".

China's announcement is a direct response to new duties on Chinese goods imported into the United States, announced Tuesday in Washington. For instance, the major complaint is about the theft of United States intellectual property by Chinese firms.

The US and China have been trying to restart high-level talks that broke off after Trump followed through on his tariff threats.

"There is no off-ramp, and Trump has given China little wiggle room to save face and come to the bargaining table", he said. Last year, China imported about $130 billion of USA goods.

The action is the latest by U.S. President Donald Trump to put pressure on China to negotiate trade concessions after imposing tariffs on $34 billion in goods last month.

Economists warn that a prolonged trade war between China and the USA could end up increasing prices for American consumers and hurting United States businesses.

The 25 percent tariffs also will apply to a broad range of Chinese electronics, plastics, chemicals and railway equipment that the Office of the U.S. Trade Representative (USTR) has said benefit from the "Made in China 2025" industrial plan, aimed at making China competitive in high-technology industries.

All China's main state newspapers published a lengthy commentary by the official Xinhua news agency, entitled "declaration", on their front pages.

China has repeatedly warned it will strike back against any further punitive measures by Trump, saying the United States is threatening the global free trade order with its protectionism.

John Neuffer, president and CEO of the Semiconductor Industry Association, said in a statement they were disappointed and puzzled why semiconductors remain on the final tariff list.

April 4: China rolls out a listof more than 100 United States goods worth roughly $50 billion that are subject to retaliatory tariffs.

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