U.S. Poised to Publish $200 Billion China Tariff List

U.S. Poised to Publish $200 Billion China Tariff List

U.S. Poised to Publish $200 Billion China Tariff List

Meh. What's $200 billion these days?

"In light of China's decision to respond to the investigation by imposing duties on US goods, the Trade Representative proposes a modification of the action taken in this investigation". French said. "The way things are shaping up, it may be too late, but we hope the administration changes course before we lose the momentum from tax and regulatory reform and return to an era of high prices, job loss and negative growth in our economy".

"China is forced to strike back to safeguard core national interests and the interests of its people", the Commerce Ministry said.

The Foreign Ministry, at its regular press briefing, called the move "typical trade bullying", and urged the worldwide community to work together to "resolutely resist unilateralism, oppose protectionism and maintain the multilateral trading system".

President Trump escalated his trade war with China Tuesday, identifying an additional $200 billion in Chinese products that he intends to hit with import tariffs.

The United States has chose to impose tariffs on $200 billion worth of imports from China after efforts to negotiate a solution to the trade dispute failed to reach an agreement, senior administration officials said on Tuesday.

The US is levying these tariffs because of what it describes as China's unfair trade practices, including forcing US companies operating in China to transfer technology to the Chinese. "Rather than address our legitimate concerns, China has begun to retaliate against USA products". "There is no justification for such action", said Mr Lightizer.

"Trump's escalation of trade hostilities makes it increasingly hard to envision an exit path from an all-out trade war".

The Dow Jones Industrial Average finished 0.6 per cent higher at 24,919.66 and the S&P 500 tacked on 0.4 per cent to 2,793.84.

In the USA, some lawmakers and business groups criticised the latest United States move.

National Retail Federation senior Vice President for Government Relations David French said the move "doubles down on a reckless strategy that will boomerang back to harm US families and workers".

The hard-hitting statement from the vice-president of worldwide trade Hun Quach accused Mr Trump of breaking his promise to bring "maximum pain on China", saying that "American families are the ones being punished" instead.

Members of Congress are increasingly questioning Trump's aggressive trade policies, warning that tariffs on imports raise prices for consumers and expose USA farmers and manufacturers to retaliation overseas.

"Tariffs are taxes, plain and simple".

The initial United States tariff list focused on Chinese industrial products in an attempt to limit the impact on American consumers.

Senate Finance Committee chair Orrin Hatch (R-Utah) also took aim at the announced list, saying it "appears reckless and is not a targeted approach".

He said the administration should get back to the negotiating table with China. "It could be naive, but that seems to be an emerging consensus within the market".

Offshore yuan dropped 0.55 per cent to 6.6870 per U.S. dollar.

Chinese economist Hu Xingdou, however, suggested that China should keep control of the situation and take measures to prevent the trade conflict from expanding into a technological conflict.

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