Published: Wed, July 11, 2018
Money | By Armando Alvarado

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

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

The Trump administration is readying tariffs on another $200 billion United States in Chinese imports, ranging from burglar alarms to mackerel. President Donald Trump had ordered him last month to draw up the list in the event China retaliated against a previous round of US tariffs. The publication of the list starts a weeks-long process that includes a public-comment period and hearings. "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".

This most recent maneuver follows a threat President Trump made last month, and comes days after the USA and China imposed tit-for-tat tariffs on more than $30 billion in goods.

The Trump administration has accused companies in China of repeatedly committing intellectual property theft and other unfair trade practices, while it says China's government remains unresponsive to its concerns. "There is no justification for such action", he said in a statement.

The tariff list could be released as soon as Tuesday, and likely this week, the report said.

China immediately retaliated with duties on the same value of United States goods, including soybeans and cars.

Beijing has vowed to respond in kind to any US trade action.

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Chinese retaliation: China has threatened to retaliate dollar-for-dollar if the Trump administration imposes a new round of tariffs. Rather than address our legitimate concerns, China has begun to retaliate against US products.

The president has repeatedly described his resort to tariffs - which are paid by American importers - as a lever to extract negotiating concessions from US trading partners. "Reliance on more and more taxes as a means to drive change is a high-risk strategy with US importers and exporters at the heart".

"The president has broken his promise to bring 'maximum pain on China, minimum pain on consumers, ' and American families are the ones being punished", Hun Quach, vice president of global trade for the Retail Industry Leaders Association, said in a statement following news of the new round of duties.

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

"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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