U.S. to list tariffs on another US$200 billion of Chinese products

U.S. to list tariffs on another US$200 billion of Chinese products

U.S. to list tariffs on another US$200 billion of Chinese products

The US has ramped up its trade war with China, outlining a list of $200bn (£150bn) worth of additional products it plans to place tariffs on. President Donald Trump had ordered him last month to draw up the list in the event China retaliated against a previous round of USA tariffs. The officials said they tried to target goods that would reduce the harm to United States consumers.

The White House has complained that China has used predatory practices in a relentless push to grant Chinese companies an unfair advantage in the industries of the future, including robotics, electric cars and biopharmaceuticals.

"Tariffs are taxes, plain and simple". Industry groups have also highlighted the duties' potential to derail USA economic growth.

The tariffs could take effect after public consultations end on August 30, according to a statement from the US Trade Representative's office Tuesday. "There is no justification for such action", he said in a statement.

"China is forced to strike back to safeguard core national interests and the interests of its people", the Commerce Ministry said in a statement to CNN last week.

But Trump has said continuously that China has taken advantage of the United States economy, and he has vowed to hit almost all the country's products with tariffs, as much as $450 billion.

China trade battle kicks off; markets take it in stride
That conjures the image of this being a cool, calm, collected game of chess on both sides: Washington and Beijing . China's retaliatory tariffs of equal scale went into force immediately after Washington fired the first shot.

Trump authorized an initial $50 billion in tariffs - including the $34 billion that took effect Friday - to match those losses. "This new round of proposed tariffs takes the fight onto yet another level from which it is going to be hard for either side to make a graceful retreat", said Eswar Prasad, former head of the International Monetary Fund's China division.

"We share the concerns expressed by the American side", he said.

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

Chinese officials also encouraged businesses to reduce their reliance on US goods, urging them to shift orders for products such as soybeans and automobiles to suppliers in China or countries other than the United States. "We can not turn a blind eye to China's mercantilist trade practices, but this action falls short of a strategy that will give the administration negotiating leverage with China while maintaining the long-term health and prosperity of the American economy".

"Xi Jinping and the Communist Party do not face midterm elections in November", Rank said of the Chinese president, who is no longer bound by term limits.

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