Trump imposes 25 per cent duties on $50bn worth of Chinese goods

CT6 Cadillac during the Consumer Electronics Show Asia 2018 in Shanghai China on Friday

"If you look back at President Trump's history, he's been wildly successful negotiating as a businessman".

Trump laid out a list of more than 800 strategically important imports from China that would be subject to a 25 percent tariff starting on July 6, including cars, the latest hardline stance on trade by a US president who has already been wrangling with allies. The move has stoked business fears of a sustained trade war that could raise prices on American consumers, while heartening some lawmakers who have long called for a tougher stance against Beijing. A date for those tariffs has not yet been made publicly available.

United States trade groups also stepped up their criticism, while some large companies such as Boeing said they were beginning to evaluate the tariffs' possible effects. He added: "Our hope is that it doesn't lead to a rash reaction from China".

One food processing plant explained to Wisconsin Public Radio that the cost of the tariffs will add $.02 per can to their production.

A lot, but not a lot.

The dispute revived after the White House renewed its plan for a tariff hike on $50 billion of Chinese goods as part of the technology dispute. The website said that the items would be taxed at 25 percent.

USA restrictions will target China's technical industries, including aerospace, robotics, and auto engineering. For now, weeks of shuttle diplomacy between Washington and Beijing, in an effort to reduce China's massive goods trade surplus with the USA, have produced nothing - and the very products that China had pledged to buy more of will now be slapped with higher import duties instead.

The prospect of a U.S. After receiving public comment, the USA removed 515 product lines from the list, including TVs and some pharmaceuticals, according to a senior administration official who briefed reporters on condition of anonymity. But the impact won't be as visible as it would be if consumer products were taxed directly. Goods like televisions and birth control, which had initially been proposed for inclusion, were removed from the final tariff list.

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When do the tariffs take effect? Meanwhile, the other Dollars 16 billion worth of Chinese products will undergo further review in a public notice and comment process. American officials said they would suspend threatened tariff increases on up to $150 billion of Chinese goods.

As the Trade Representative's office noted in its Section 301 investigation, the Chinese government leans on foreign companies operating in China to transfer technology in return for access to the Chinese market.

The European Union has called the US steel and aluminum tariffs "illegal". The Trump administration earlier this month cut a deal with ZTE, but the agreement to save the company has faced resistance from lawmakers in Congress, who argue the ban should stay in place because ZTE poses a security threat.

The administration wants the Chinese government to change its ways on all these fronts.

China said additional tariffs on 114 more USA items, covering chemical products, medical equipment and energy, will be announced later. But he signaled that whatever the implications, "I have to do what I have to do" to address the trade imbalance. But the administration has made clear that these tariffs are meant to ultimately pressure China into some type of agreement, so they might not be permanent.

The U.S. imported more than $2.7 billion in Chinese seafood a year ago, and the U.S. exported more than $1.3 billion to China.

By contrast, the Trump administration earlier this year imposed steep tariffs on imported washing machines.

The White House said it would consult on tariffs on the other $16bn of products, and would apply these later.

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