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USTR finalizes $200 billion in China tariffs

USTR finalizes $200 billion in China tariffs

According to a statement from President Donald Trump, if the Chinese government "takes retaliatory action against our farmers or other industries" in response to the tariffs, another $267 billion worth of goods will be added to the list.

The accusation comes one day after China promised to take "countermeasures" against Trump's plan to impose tariffs on an additional $200 billion worth Chinese imports.

The US is imposing new tariffs on $US200 billion ($NZ304b) worth of Chinese goods as it escalates its trade war with Beijing.

So far, Washington has imposed tariffs on $50 billion worth of Chinese products, while Beijing has responded with reciprocal measures targeting $50 billion of American goods, raising fears about damage to the U.S. farm industry.

Trump warned on Monday that if China takes retaliatory action against USA farmers or industries, "we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports".

Taken with the $50 billion in tariffs already in place, this means roughly half of everything Americans buy from China - their largest source for imports - is now subject to punitive import duties.

US President Donald Trump has enforced higher import taxes will apply to more than 5000 Chinese goods.

The U.S. duties targeted Chinese goods Washington says have benefited from improper industrial policies.

The statement from the Ministry of Commerce didn't note specific actions, though China has previously said it would retaliate with levies on $60bn worth of U.S. goods. "But, so far, China has been unwilling to change its practices", including theft and force transfer of technology.

Obama tells voters to step up or ‘things can get worse’
Pence said Obama's criticism would draw a favourable contrast between Democrats and Republicans in the campaign. The "good news" Obama said is "in two months we have a chance to restore some sanity in our politics".


Fang told the Tianjin forum that he hopes the two sides can sit down and talk, but added that the latest U.S. move has "poisoned" the atmosphere.

The commerce ministry said the new tariffs "bring new uncertainty to the consultations between the two sides". And China has retaliated in kind, hitting American soybeans, among other goods, in a shot at the president's supporters in the U.S. farm belt.

Appearing to counter Trump's previous claim that tariffs imposed by his administration would bring home United States businesses and manufacturing, AmCham chairman William Zarit said only 6 per cent of the group's member companies have said the trade war will cause them to consider shifting their operations back to the US. This has raised concerns that China could retaliate with non-tariff trade measures.

In a further attempt to cushion the blow, Washington canceled plans to put tariffs on about 300 product categories, including hot consumer items like smart watches and Bluetooth-enabled devices, chemicals for manufacturing, agriculture and textiles, as well as bicycle helmets, and children's high chairs, auto seats and play pens.

"The real issue with these talks from the Chinese side is not the 10 per cent U.S. tariffs", Mr Scissors said.

This latest round means that around half of all Chinese imports to the U.S. are now subject to the new duties. The administration is targeting a bewildering variety of products - from sockeye salmon to bamboo mats - forcing US companies to scramble for suppliers outside China, absorb the import taxes or pass along the burden to their customers.

"We stand ready to negotiate with China anytime, if they are willing to engage in serious talks", said Larry Kudlow, the White House economic adviser, said earlier in the day at the Economic Club of NY.

After Apple's comments, Trump said in a tweet said that there was an "easy solution" for Apple to avoid tariffs.

"We have a trade deficit, depending on the way you calculate, of $504 billion, now some people would say it is really $375 billion", Trump said at the time.


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