China vows to hit back over USA proposal for fresh tariffs


The pursuing a new set of tariffs that would hit $200 billion in Chinese goods, according to senior administration officials.

Over 100 types of plastic products, materials and equipment from China are included in a massive new round of USA tariffs released late July 10 and covering $200 billion worth of Chinese imports.

All told, Trump has threatened eventually to slap tariffs on up to $550 billion in Chinese imports - more than China actually exported to the United States previous year - if Beijing won't relent to US pressure and continues to retaliate.

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. This article is strictly for informational purposes only.

Lighthizer said the initial $50 billion in us tariffs were aimed at goods that "benefit from China's industrial policy and forced technology transfer practices".

"Trade experts we have consulted point to the potential for anti-U.S. social media campaigns, delays or blockage of regulatory approvals, travel bans, investment restrictions, among other options", Raymond James analyst Ed Mills said in a report. "Reliance on more and more taxes as a means to drive change is a high-risk strategy with USA importers and exporters at the heart". "It will also result in retaliatory tariffs, further hurting American workers", a Chamber spokeswoman said.

The US trade deficit in goods with China ballooned to a record $375.2bn past year, stoking Trump's anger. China responded with levies of its own, targeting $34 billion in US products such as pork and whiskey.

The more it turns up the heat therefore, the more likely the tariffs get implemented as just like the 25 per cent levies on $34 billion of Chinese and USA imports triggered on Friday.

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The new list includes vacuum cleaners, furniture, auto and bicycle parts, French doors and plywood.

China has, in recent years, become a key export market for growing US energy exports.

The president last month asked the U.S. Trade Representative's office to identify US$200 billion of Chinese goods that could be hit with 10 percent tariffs.

The United States remains willing to engage in negotiations with China on the issues at hand, he added.

"The Chinese side is shocked by the actions of the United States", a statement on the ministry's website declared.

They also said they remain open to working with China to try to resolve the dispute, but the response from Beijing so far has been unsatisfactory.

Jack Gerard, Cal Dooley, and Edward R. Hamberger-the president and CEO of the American Petroleum Institute, president and CEO of the American Chemistry Council, and president and CEO of the Association of American Railroads, respectively-wrote in an opinion piece in the Washington Examiner published on Wednesday that the trade war is threatening the USA economy and could add "hundreds of billions of dollars in potential costs for American businesses - costs that could ultimately be borne by consumers".