US May List Tariffs On $200 Billion More Chinese Products

11 Julio, 2018, 02:36 | Author: Arnold Perez
  • Credit The Conversation CC-BY-ND Source US Census Bureau

The list of goods affected by the new tariffs includes seafood, fruits and vegetables, grains and tobacco. High-level talks between the two countries starting in May failed to deliver a breakthrough to head off a trade war.

The move drew immediate condemnation from Senate Finance Chairman Orrin Hatch, a Republican from Utah, who called it "reckless" and not "targeted".

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.

The Trump administration on July 6 imposed 25 per cent duties on $US34 billion in Chinese imports, the first time the president has implemented tariffs directly on Beijing after threatening to do so for months.

Ivanka's products remain untouched by these tariffs and the fashion line is continuing to work with and create order contracts for Chinese shoe suppliers, such as Chengdu Kameido Shoes and Hangzhou HS Fashion.

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Chinese officials are expected to retaliate in other ways, hitting US firms in China with unplanned inspections, delays in approving financial transactions and other administrative headaches.

The president of the European Union Chamber of Commerce in China, Mats Harborn, said Tuesday one of its members moved final assembly of goods for the American market from China to a newly created USA company. And 72% of shoes sold in the USA are from China, according to the South China Morning Post, citing the American Apparel and Footwear Association.

The International Monetary Fund has warned that a full-blown trade war could undermine the broadest global upswing in years.

President Donald Trump has already ordered tariffs on another $16 billion in Chinese exports for later this summer, after the comment period on the American list closes, and China will retaliate again.

A large number of Americans are uncomfortable with pre-Trump administration trade policies and believe that the U.S.is "giving more than we're getting", according to Republican pollster Conor Maguire.

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