Monday, 24 September, 2018

USA proposes $200B more in tariffs on Chinese imports

US-China trade: China is building bridges with the world while the US puts up walls What Is the Endgame for the Trump Trade Wars?
| 11 July, 2018, 08:10

But Trump has said continuously that China has taken advantage of the USA economy, and he has vowed to hit almost all the country's products with tariffs, as much as $450 billion.

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

The move would be the latest in the escalating trade skirmish between the world's two biggest economies.

The United States Trade Representative (USTR) has announced plans for further tariffs as an additional action to the existing 301 case relating to alleged Chinese theft of US intellectual property. But the new tariffs will not be imposed until the end of a two-month public comment period. Rather than address our legitimate concerns, China has begun to retaliate against US products.

In a statement, U.S. Trade Representative Robert Lighthizer said that the new 10-percent tariffs were in response to what he called China's "retaliation and failure to change its practices".

The trade confrontation between Washington and Beijing has been escalating for months, despite Trump's repeated statements that he has a good relationship with China's President Xi Jinping.

This most recent maneuver follows a threat President Trump made last month, and comes days after the USA and China imposed tit-for-tat tariffs on more than $30 billion in goods.


The president has repeatedly described his resort to tariffs - which are paid by American importers - as a lever to extract negotiating concessions from USA trading partners. But Trump hasn't backed down, arguing that China's unfair trading practices are hurting American workers.

On this path, the U.S. government would then nearly surely retaliate in response, raising the stakes immediately to $450 billion in imports of Chinese goods under tariff. China has vowed to retaliate dollar-for-dollar to any further US tariffs.

"Unfortunately, China has not changed its behaviour - behaviour that puts the future of the USA economy at risk".

The U.S. Chamber of Commerce has supported Trump's domestic tax cuts and efforts to reduce regulation of businesses, but it has been critical of Trump's aggressive tariff policies.

Up until now, only a few companies, including Harley-Davidson Inc. and Brown-Forman Corp., have publicly said the tariffs will affect their businesses, as most United States retailers and consumer brands were spared in the first round of tariffs on Chinese imports.

Beijing has called on Chinese firms to substitute American imports with those from other countries in response to USA trade tariffs.

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