Trump slaps steep tariffs on hundreds of Chinese products

19 June, 2018, 23:11 | Author: Roderick Gutierrez
  • A cargo ship carrying containers stops at Qingdao Port

The Chinese government on Friday hit back with tariffs on U.S. goods, hours after President Donald Trump's announcement that the United States would hit $50 billion worth of Chinese goods with a 25% tariff. The Trump-led tariffs apply to almost 1,100 Chinese exports ranging from automobile and manufacturing hardware to aerospace and robotics.

China's trade surplus with the USA previous year was about $375 billion.

Tariffs on $34 billion of USA goods including agricultural products such as soybeans will take effect from July 6, the ministry said.

Before the Chinese measures were announced, Lu Kang, a spokesman for the Chinese Foreign Ministry in Beijing, warned that China's reaction would be swift and "of the same scale and intensity".

The Chinese government's top diplomat, State Councillor Wang Yi, said his country was prepared to respond if Trump went ahead with the tariffs.

Trump's first announced that the United States would impose trade penalties on about United States dollars 50 billion of Chinese goods in March. When a vehicle is sent to China from the United States, there is a Tariff to be paid of 25 per cent.

President Trump warned that if China retaliates against the USA with new tariffs of its own, the U.S. Meanwhile, the other US$16 billion worth of Chinese products will undergo further review in a public notice and comment process.

China responded swiftly, saying it would imposed "equal" tariffs on U.S. products.

Currently, China and the United States have the world's biggest trading relationship.

The ministry says it's also scrapping deals to buy more American farm goods and other exports - steps that were meant to help ease a dispute over China's trade surplus and China's technology policy. He again complained that he had been blindsided by Canadian Prime Minister Justin Trudeau's criticism of his tariff threats at a summit-ending news conference.

The government will start to collect the tariffs on July 6. If tariffs are placed on those products, they would likely affect farmers and rural supporters of president Trump.

"There is no trade war".

"It generally focuses on products from industrial sectors that contribute to or benefit from the "Made in China 2025" industrial policy, which include industries such as aerospace, information and communications technology, robotics, industrial machinery, new materials, and automobiles", USTR announced in a statement Friday.

Chicago-based Boeing Co., the world's largest planemaker, on Saturday said it's assessing the effects on its supply chain of Trump's tariffs and China's reciprocal action.



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