Trump Administration Readies Tariffs On $200 Billion Of Chinese Imports

Trump Administration Readies Tariffs On $200 Billion Of Chinese Imports

The Trump administration announced Tuesday that it has started the process of implementing fresh tariffs on $200 billion worth of imported Chinese goods.

The US had no choice but to move forward on the new tariffs after China failed to respond to the administration's concerns over unfair trade practices and Beijing's abuse of American intellectual property, the officials said.

The additional USA tariffs, which will go through a two-month approval process including a public hearing, come after China retaliated in a tit-for-tat trade skirmish last week.

Beijing, meanwhile, has unveiled measures to help Chinese companies absorb the US trade blows, pledging to funnel money collected from its own import levies to firms and workers tangled in the escalating trade war.

This most recent maneuver follows a threat President Trump made last month, and comes days after the US and China imposed tit-for-tat tariffs on more than $30 billion in goods. But China only bought about $135 billion in US goods a year ago, meaning it will run out of American products to tax before it matches Trump's latest move. "There is no justification for such action", he said in a statement.

U.S. Trade Representative Robert Lighthizer on Tuesday evening unveiled a proposed list of more than 6,000 products to be hit with 10-per-cent import taxes.

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The Retail Industry Leaders Association, a lobby group representing the largest US retailers, said: "The president has broken his promise to bring 'maximum pain on China, minimum pain on consumers'". And China's retaliation was targeted at soy farmers and others in the U.S. Republican heartland.

Robert Holleyman, the USA official in charge of trade with Asia during former president Barack Obama's second term, described the tariffs as "tax hikes on US imports". China responded with levies of its own, targeting $34 billion in USA products such as pork and whiskey.

America's trade war with China is back on.

"I'm not sure that Trump feels pressure".

The ministry released no further details about how it would spread the financial relief or whether the aid would cover the total cost of losses, but analysts said the move suggests China could significantly increase its support for industries that stand to be bled by the commercial battle.

"Unfortunately, China has not changed its behaviour - behaviour that puts the future of the United States economy at risk".

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