Trump vows to impose tariffs on more Chinese goods

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Washington already imposed tariffs on $34 billion in Chinese products on July 6.

The US will begin imposing 25% duties on an additional $16 billion in Chinese imports in two weeks, escalating a trade war between the world's two biggest economies. After Liu visited Washington later that month, the nations released a joint statement pledging to reduce the US trade deficit with China, among other things.

The tariffs will come into effect simultaneously with the USA ones, at 12:01 pm in Beijing, according to the statements. And President Donald Trump has threatened to impose tariffs on virtually everything China sells to the United States.

Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over market access, intellectual property, technology transfer and investment.


China, however, would run out of US imports to levy, as it bought only $130 billion worth of American goods a year ago.

It will be the second time the United States slaps duties on Chinese goods in about the past month, despite complaints by American companies that such moves will raise business costs and eventually consumer prices.

China fired back warning it would impose duties on $60 billion in United States goods.

A list published by the U.S. Trade Representative's office indicated 279 import product lines for tariffs.


The latest $16 billion list from the United States will hit semiconductors from China, even though numerous basic chips in these products originate from the United States, Taiwan or South Korea. The number of categories of goods subject to tariffs rose to 333 from 114 in the June draft, although the total value is unchanged. A third and further damaging round is proposed on an eye-watering $200 billion worth of trade, around $1 billion of which is said to be bicycle related goods. China has responded with retaliatory tariffs of its own.

A first tranche, on $34bn worth of goods, went into effect in July.

August 3: China announces that the country will impose tariffs of various rates on another $60 billion worth of USA goods if Trump moves forward with his latest threat.

The tariffs will be activated on August 23, the ministry said, the same day that the United States plans to begin collecting 25 percent extra in tariffs on $16 billion of Chinese goods.


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