China says US tariff threat runs against trend of the times

China says US tariff threat runs against trend of the times

China says US tariff threat runs against trend of the times

Washington wants China to open its market more to United States products and stop harming American workers, one official said, speaking on condition of anonymity.

Trump's order to consider increasing the tariffs to 25 percent will extend that process into September so businesses and consumers can comment on the effect of the new level, senior administration officials said.

The duties, initially announced last month, would not be imposed until after a period of public comment.

Experience shows that President Trump does not always follow through on everything he says or tweets.

A trade deficit happens when a country imports more than it exports. But President Trump has done just the opposite, signing a large corporate tax cut that makes foreign investment in the USA more attractive, while forcing Congress to scale back its plans to place more restrictions on Chinese investment in the United States.

The U.S. has imposed tariffs targeting aerospace, robotics and other forms of technology, while China retaliated with tariffs on agricultural products, seafood and cars, among other things. "If the United States takes further escalatory steps, China will inevitably take countermeasures and we will resolutely protect our legitimate rights", Chinese Foreign Ministry spokesman Geng Shuang told a regular news briefing.

China's Finance Ministry accused the Trump administration of damaging the global economy after the US proposed increasing duties on $200 billion of Chinese goods in the second round of a dispute over technology.

Meanwhile, the Chinese economy is likely to feel a pinch, but that doesn't mean the country will back down, William Zarit, the chair of the U.S. Chamber of Commerce in China, tells NPR. "It's OK, we can take it" - these are incredible people", the president said.

"If we're going to use tariffs, this gives us more flexibility and it's a more meaningful threat", he said.

In June, Trump directed the Office of the US Trade Representative (USTR) to impose an additional 10% tariff on US$200bn of Chinese goods, in response to China's decision to impose retaliatory duties on US goods.

US President Donald Trump has sought to ratchet up pressure on China for trade concessions by proposing a higher 25 per cent tariff on $US200 billion worth of Chinese imports, his administration says.

The $200 billion list of goods targeted for tariffs - which also include Chinese tilapia fish, printed circuit boards and lighting products - would have a bigger impact on consumers than previous rounds of tariffs. After earlier action against $34 billion of US goods, that left about $120 billion for retaliation.

China has urged the United States to "calm down" after Donald Trump threatened to impose a 25 per cent tariff on $200bn (£153m) worth of goods as punishment for it not offering trade concessions. What these numbers do not show is that if U.S. goods are sent to China for assembly and then returned to the U.S., these so-called "intermediate goods" are considered Chinese imports, even if the parts are made in the US. "The cost increases will be passed on to customers, so it will affect most Americans pocketbooks".

Washington and Beijing have not had any formal talks on China making changes to its intellectual property protection, technology transfers and subsidies for high technology industries.

Beijing's earlier round of tariffs appeared created to minimize the impact on the Chinese economy by targeting soybeans, whiskey and other goods available from Brazil, Australia and other suppliers.

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