China pledges to 'immediately' retalliate to Donald Trump's latest tariffs

China pledges to 'immediately' retalliate to Donald Trump's latest tariffs

China pledges to 'immediately' retalliate to Donald Trump's latest tariffs

In addition to the $34bn in products the USTR had already listed, the trade bigwigs put out a second list [PDF] covering another $16bn worth of additional imports from China it is considering adding to the tariff list.

The White House had set a June 15 deadline for announcing the full list of items that will see a tariff imposed, focusing on areas of China's industry such as aerospace, robotics and machinery. They included a variety of agricultural products, including soybeans, corn and wheat along with beef, pork and poultry, plus automobiles.

"My great friendship with President Xi of China and our country's relationship with China are both very important to me".

"In this trade war, it's the U.S. who is playing the role of provocateur, while China plays defence", said the Global Times, a newspaper published by the ruling Communist Party. He said tariffs place "the cost of China's unfair trade practices squarely on the shoulders of American consumers, manufacturers, farmers, and ranchers".

Past year the United States imported $506 billion in goods from China while sending $130 billion overseas, leaving the United States with a $376 billion deficit.

The Chinese government said it would respond in kind to the United States tariffs, which will apply to roughly 1,100 exports and will target China's aerospace, robotics, manufacturing and auto industries.

Mr Trump has already slapped tariffs on steel and aluminium imports from Canada, Mexico, Europe and Japan, drawing a rebuke from USA allies.

Interested in Donald Trump? Tactics aren't as uniform as a strategy. This will be a disappointment for China. And multinational corporations worry about their future ability to do business in China - a massive market.

The scheduled on Friday to release an updated list of Chinese tariff targets. The tariffs will cover more than 1,000 types of items, but many of those are very similar manufacturing components.

The additional tariffs on Chinese goods in the United States will "substantially change" the trade conditions of these products, also affecting relevant producers and trade companies as well as the production and operation of the upstream and downstream industries, an official in charge of the Office of the Customs Tariff Commission.

After a spiralling trade dispute with President Donald Trump, China has announced its decision to hike the import duties on electric cars and a list of other goods accounting for $34 billion, which come from the United States of America.

Friday's list of goods on which China is to impose tariffs is longer than an initial list of 106 published on April 4, but their total value remains unchanged, at $50 billion.

The announcement comes as trade conflicts between the world's largest two economies are on the rise.

The 25 percent tariffs will be placed on roughly $50 billion in imports from China.

The U.S. isn't the only country in the lobster trade.

Chiding the USA move as "a short-sighted act" that hurts both the United States and others, Lu said China "had no choice but to fight back forcefully".

But despite the Trump administration's intentions, much of the response in the US Friday appeared to be "thanks but no thanks".

What you need to know about the president's latest trade move. We have espoused the benefits of capitalism, of free trade, of open markets to the whole world. "And now China wants to be a major player".

The White House has announced a 25 percent levy on technology-related products worth around $50 billion.

Related news

[an error occurred while processing the directive]