China set to respond to new round of USA tariffs

Trump going ahead with tariffs on $16B in Chinese imports

Trump going ahead with tariffs on $16B in Chinese imports

"People really need to get used to a world with tit-for-tat tariffs in place between the two largest economies", said Wendy Cutler, a former us trade negotiator.

In the latest move by President Donald Trump to put pressure on Beijing to negotiate trade concessions, Washington is set to begin collecting 25 percent tariffs on another $16 billion in Chinese goods on August 23. More tariffs are planned, including duties of 25pc on an additional $16bn of Chinese goods that the USA will impose in a fortnight.

China buys nearly $18 billion a year worth of goods from Washington state every year.

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

Trump has claimed in recent tweets that "tariffs are working far better than anyone ever anticipated", linking them to a downturn that has shaved almost a quarter from the value of Chinese stocks since late January. The $16 billion taxed in the latest round brings the total amount of Chinese goods taxed up to $50 billion.

In March 2018, the USTR had released the findings of its "exhaustive" Section 301 investigation that found China's acts, policies and practices related to technology transfer, intellectual property, and innovation are "unreasonable and discriminatory and burden USA commerce".

The US announced earlier this week that its own tariffs on US$16 billion of Chinese goods would start on Aug 23.

A list published by the U.S. Trade Representative's office indicated 279 import product lines for tariffs.

The new list covers products such as semiconductors, electronics, plastics, and railway equipment.

Washington already imposed tariffs on $34 billion in Chinese products on July 6. Beijing is expected to hit $16 billion worth of United States goods with equal tariffs in response to Tuesday's move. Schneider National Carriers Inc. and other firms testified during a hearing July 24-25 in Washington that there are no United States manufacturers and that the containers are nearly exclusively made in China.

ANZ senior China economist Betty Wang said Beijing will likely resist using its closely managed currency as a tool in the trade war.

China deprives USA companies of the ability to set market-based terms in licensing and other technology-related negotiations.

According to a study released Tuesday by the U.S. Federal Reserve Bank of Atlanta, Washington-fueled trade tensions with other economies have prompted nearly a fifth of U.S. businesses including about 30 percent of manufacturers to review their capital spending plans.

Recommended News

  • Spanish paedophile jailed in Germany for 'buying' boy online

    Spanish paedophile jailed in Germany for 'buying' boy online

    A German couple have been jailed for selling their 9-year-old son to paedophiles for sex on the dark web . The verdict was based on confessions by the pair and the videos of the abuse.
    Brad Pitt's Child Support

    Brad Pitt's Child Support

    Back in June, the exes made headlines when court docs revealed a judge wanted Brad to spend more time with their six children. Jolie's team didn't define what constituted as a "meaningful" child-support payment.
    There is no Willian problem, says Chelsea boss Sarri

    There is no Willian problem, says Chelsea boss Sarri

    I played against City last season, played them in their best moment of the season. "In this moment it's a very hard match", Sarri said.
  • Manchester United 'offered Miralem Pjanic in Paul Pogba bid'

    Manchester United 'offered Miralem Pjanic in Paul Pogba bid'

    Mina, 23, was one of Colombia's stars at the recent World Cup, the towering central defender scoring three goals in three games. The Red Devils have also been linked with Leicester City's Harry Maguire and Tottenham Hotspur's Toby Alderweireld .
    Tesla call options jump on Musk tweet, short-sellers hurt

    Tesla call options jump on Musk tweet, short-sellers hurt

    Trading in Tesla's stock resumed shortly after the letter's release, and the stock climbed 11 per cent to close at $US379.57. Mr Musk later brought some clarity to the situation in an email to Tesla employees that was also posted on Tesla's blog.
    Trump poised to re-impose sanctions on Iran

    Trump poised to re-impose sanctions on Iran

    The report said a protest was taking place in Karaj, 50 kilometers (30 miles) west of Tehran, when someone fired from a vehicle . This past week, though, Trump said he'd be willing to meet with Iranian leaders without any preconditions.
  • John Kasich: Suburban GOP Women 'Turned Off' by Trump's Chaos

    John Kasich: Suburban GOP Women 'Turned Off' by Trump's Chaos

    Fasano and House Minority Leader Themis Klarides are trying to turn the focus of CT citizens away from President Donald Trump . James spoke to Lemon from the public school he opened for at-risk kids in Akron, called the I Promise school.
    Terrell Owens held his own Hall of Fame ceremony at alma mater

    Terrell Owens held his own Hall of Fame ceremony at alma mater

    An eight-time All-Pro and inside linebacker on the 2000s NFL All-Decade Team, he had a franchise-record 2,643 career tackles. From beginning to end, the crowd was hanging on every word that came out of T.O.'s mouth during a mostly heartfelt speech.
    Natural disaster  of magnitude 7 strikes Indonesias Lombok island, Tsunami alert issued

    Natural disaster of magnitude 7 strikes Indonesias Lombok island, Tsunami alert issued

    Hopefully you are away from the coastline or up in a higher bldg until tsunami possibility passes, ' said a third. The epicentre was 2km east-south-east of Loloan and tremors were felt for several seconds in Bali.
  • Real Target Tells Chelsea He Wants To Leave

    Real Target Tells Chelsea He Wants To Leave

    The Chelsea head coach has admitted the pair did not speak about Hazard's future, despite ongoing links with Real Madrid . However, it's not just Sarri who wants him to remain. " Chelsea wants for the best players to stay", said Luiz.
    Swiss police confirm 20 dead in WWII vintage plane crash

    Swiss police confirm 20 dead in WWII vintage plane crash

    It left Locarno Air Base around 16h CET and was heading for the suburbs of Zurich when it crashed at an altitude of 2,540 metres. Police said Sunday they have now determined that all 20 people on board the plane, including its three crew members, died.
    Voter ID required to stop Democrats' push for non-citizens to vote

    Voter ID required to stop Democrats' push for non-citizens to vote

    In announcing the agricultural bailout last week, he urged farmers to "be a little patient" and support his trade strategy. Trump renewed his call for funding to build a wall on the USA southwest border with Mexico, as he has for several days.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.