Trump administration threatens tariffs on another $200 billion in Chinese imports

Trump administration threatens tariffs on another $200 billion in Chinese imports

The Trump administration pushed ahead with plans to impose tariffs on additional $200 billion in Chinese products by releasing a list of targets, marking a sharp escalation in a trade war between the world's two largest economies.

The public will have until the end of August to comment on the list before the new tariffs - to be imposed at 10% - come into effect. "Too many jobs and livelihoods are at stake to continue escalating this trade war".

Some Korean exports could replace Chinese goods to be slapped with tariffs, for example.

China said tit-for-tat tariffs will "destroy" trade between the world's top two economies, after Washington fired the next shot in a ballooning trade war, readying fresh levies on $200 billion in Chinese goods. It will have to get creative - and be patient.

China's Cybersecurity Law, which took effect previous year, had disrupted businesses, the survey said, while VPN policies made work harder for 56 percent of companies. "But China's reaction to the U.S. tariffs could pose a far greater threat to the index in time".

While tariffs were not popular, 42 percent of respondents favored investment reciprocity as a way to push for change in market access, up from 40 percent previous year. But obviously that's swamped by the trade in goods.

Like the whiskey distillers, American farmers producing soybean, dairy, cotton, lobsters, apples and much more, are feeling the heat. And China fired back by mirroring those numbers.

The new list products would be assessed at 10 per cent if Beijing insists on the retaliatory tariffs announced in June.

"We will be losing market share. Imposing taxes on another $200 billion worth of products will raise the costs of everyday goods for American families".

Bloomberg explored a few of China's options.

On Tuesday, the president made good on his threat with the announcement of the new tariffs. This makes China the tenth-largest destination for USA coal exports.

NAM urged the Trump administration to negotiate a trade treaty with China. "China cheats, and manufacturers want to see China held accountable". But it would definitely mess with America in the short term.

So a move targeting the operations of those companies would allow China to exploit a bargaining chip of it's own. They also hurt American companies.

Trump has said the tariffs are meant to punish China for using unfair trade practices.

"A lot of the components sourced by United States companies are produced by Chinese companies", he said.

But we don't actually need China (or anyone else) to buy our debt.

The U.S. inflation data propelled the dollar higher, save for a brief dip in midday caused by a jump in the euro. They have given no indication when they might meet again. Doing so could cause inflation, but only if the USA economy was already badly overheating - in which case, higher interest rates would probably be a good thing. China retaliated with duties on the same value of U.S. goods.

Earlier on July 12, South Korea warned that its exports of high-tech components could be hurt as the U.S. "Other countries' trade barriers and tariffs have been destroying their businesses", Trump wrote. China could also try to force its currency lower to gain competitiveness. "If inflation goes up by 1 percent and income and wages don't, that would be a bigger hit to consumer welfare than these tariffs". They're the ones buying the exports, after all.

Gao said no negotiations between the two sides were going on now, adding "The precondition for negotiations is trust".

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