US lists US$200b in Chinese goods to be hit with tariffs

11 Juillet, 2018, 02:54 | Auteur: Anatole Charbonneau
  • China urges domestic firms to boost non-American imports as trade war with US escalates

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

The list includes agricultural products, minerals and consumer goods such as handbags, among other items. "We can not turn a blind eye to China's mercantilist trade practices, but this action falls short of a strategy that will give the administration negotiating leverage with China while maintaining the long-term health and prosperity of the American economy".

The Trump administration on July 6 imposed 25 per cent duties on US$34 billion in Chinese imports, the first time the president has implemented tariffs directly on Beijing after threatening to do so for months.

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The move drew immediate condemnation from Senate Finance Chairman Orrin Hatch, a Republican from Utah, who called it "reckless" and not "targeted". Beijing immediately retaliated with similar duties on US exports. But China only bought about $135 billion in USA goods past year, meaning it will run out of American products to tax before it matches Trump's latest move.

Beijing thus far has vowed to respond in kind to any US trade action.

China will reimburse the buyer for the cost of the 25 percent tariff on soybean imports from the USA if the cargoes are for state reserves, Bloomberg reported earlier citing people familiar with the matter. But Trump hasn't backed down, arguing that China's unfair trading practices are hurting American workers. The global tally for retaliation against U.S. exports, including by Canada, Mexico and the European Union over steel and aluminum tariffs, will be some $75 billion, according to an analysis by the U.S. Chamber of Commerce.

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