Trump administration confirms plan to raise China import tariff to 25 percent
02 Août, 2018, 04:52 | Auteur: Auguste Feret
Beijing has insisted it will not bow to America's attempts at "blackmail" as President Trump's officials consider extending their trade assault by more than doubling their planned tariffs on thousands of Chinese exports.
Shipping containers are seen at a port in Shanghai, China July 10, 2018.
"The increase in the possible rate of the additional duty is meant to provide the administration with additional options to encourage China to change its harmful policies and behavior and adopt policies that will lead to fairer markets and prosperity for all of our citizens", Lighthizer said in a statement.
Last month, the US proposed 10 percent tariffs on another $200 billion in Chinese products, a response to China's retaliation.
"We will give people a chance obviously to comment on the substantial effects of a 25 percent duty as oppose to a 10 percent duty", a senior administration official told reporters. The Chinese have retaliated in kind.
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Trump has threated to slap tariffs on virtually all of China's exports to the United States.
The government will seek public comment on the idea.
Investors fear an escalating trade war between Washington and Beijing could hit global economic growth, and prominent US business groups, while tired of what they see as China's mercantilist trade practices, have condemned Trump's aggressive tariffs.
The U.S. has already imposed 25 percent tariffs on $34 billion in Chinese imports and is readying 25 percent tariffs on another $16 billion worth to punish China for allegedly using predatory tactics to obtain U.S. technology. Beijing retaliated with matching tariffs on the same amount of US exports to China.
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USA threats have escalated since, with the President saying he is ready to impose tariffs on all $500bn of Chinese imports. The change isn't final yet and may not go forward after a public review, the people said.
The communist country has long sought to boost visitor numbers and position itself as a must-see destination in Southeast Asia. The bridge only opened last month, but the hands have been designed so they look as if they've been there for centuries.
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