U.S. tariffs on China: Trump administration adds $16 billion

Trump going ahead with taxes on $16B in Chinese imports

They appear far from a resolution. and according to US local news outlets, the USTR is reviewing the 10 percent tariffs on a further 200-billion USA dollars of Chinese imports...and is considering raising the rate to 25 percent. Washington has long criticised China's trade surplus with the United States and has demanded Beijing cut it. At that time, Beijing threatened a 25 percent tariff on USA crude imports, although it did not issue a specific date for the move.

China confirmed that it will impose 25 percent tariffs on an additional $16 billion worth of imports from the USA from August 23, matching an earlier move from Washington in another ratchet higher for the trade war between the two nations.

At the same time, Beijing reported a $28.1bn trade surplus with the USA in July, just below the record $28.9bn seen in June.

China's July exports rose 12.2 percent from a year earlier, beating forecasts for a 10 percent increase according to the latest Reuters poll, and up from a 11.2 percent gain in June.

April 4: China rolls out a listof more than 100 USA goods worth roughly $50 billion that are subject to retaliatory tariffs.

The new tariffs on US goods will be 25 percent.

The escalating trade conflict between the world's two largest economies...has seen the two sides impose tariffs on 34-billion dollars worth of each other's goods.

World financial markets have taken a battering in recent months as fears grow that Trump's "America First" policies could derail a global economic revival.

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China's Commerce Ministry called the USA decision to place the latest round of tariffs on Chinese goods "unreasonable", and said it chose to take counter measures, matching the tariffs in percentage and value.

"Certain people go against the tide for their own private ends and go against morality; the barrier of tariffs wantonly rise, and the stick of hegemony is raised all around", the commentary said.

In May, Chinese importers trying to beat Beijing's looming counter-tariffs led to a surge in United States exports of crude oil and soybeans, temporarily driving down the trade deficit and helping boost GDP growth in the April-June period to 4.1 percent.

"Although this may for a moment bring preening with delight, it will make it hard to resolve economic imbalances or out of kilter politics and other deep-rooted problems", it said.

The United States published its final list of goods subject to the new tariffs on Tuesday.

His administration confirmed that its trade assault would soon cover more than $50 billion of products from China.

Announcing the new duties, the US Trade Representatives Office: "China directs and unfairly facilitates the systematic investment in, and acquisition of, US companies and assets to generate large-scale technology transfer".

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