China Promises To Lodge Complaint Over More US Tariffs

Enlarge this image

High-level talks between the two countries starting in May had failed to deliver a breakthrough to head off a trade war.

Automaker BMW said Monday July 9, 2018, it will have to raise prices on the US -built SUVs it sells in China due to 40 percent import tax on cars from the United States, in retaliation for higher tariffs on Chinese goods imposed by President Donald Trump.

The new list products would be assessed at 10 per cent if Beijing insists on the retaliatory tariffs announced in June. It includes fruit and vegetables, handbags, refrigerators, rain jackets and baseball gloves.

The $200 billion move came in response to Beijing's retaliation for the first set of US duties, which primarily targeted farmers in America's heartland, but the new tariffs won't be imposed until the end of a two-month period for public comment.

Also Tuesday, China stepped up action against some US goods by announcing anti-dumping duties raw materials used in making optical fibers.

As well, the American Chemistry Council urged President Donald Trump to "bring an end to this unnecessary trade war". "Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong".

If the proposed tariffs go into effect after public consultations end on Aug 30, duties implemented by the administration aimed squarely at China will cover almost half of all U.S. imports from the Asian nation.

China's assistant commerce minister Li Chenggang said earlier on Wednesday that the latest proposed tariffs harms the World Trade Organisation (WTO) system and hurts globalisation. Beijing has vowed to retaliate dollar-for-dollar.

The US Trade Representative's office announced a $US200 billion list on Wednesday of Chinese goods for possible 10 per cent tariffs including fish, apples and burglar alarms.

On Tuesday, the president made good on his threat with the announcement of the new tariffs. They would go into effect sometime after August 30.

President Trump Sits in Winston Churchill's Chair
President Donald Trump and first lady Melania Trump arrived at Windsor Castle and meet Queen Elizabeth II Friday afternoon. But when they make you feel unwelcome, why would I stay there?' he said to The Sun .

One problem for Beijing is that it imports far less from the US than it exports - much to the annoyance of Donald Trump - and that gives it less scope to retaliate - they may run out of American goods to penalise. "There is no justification for such action".

FILE - Imported nuts from the United States are displayed at a supermarket in Beijing, March 23, 2018.

But senior Trump administration officials said on a call with reporters Tuesday that so far, the two sides haven't gotten anywhere. Malmström says its "well known" that the USA agriculture sector is one of the "few groups with political clout to bring about change in Washington", adding "it's no coincidence" that the EU, Mexico and Canada are targeting US agriculture products in response to the Trump steel and aluminum tariffs. Oil had risen the previous day, supported by a larger-than expected USA stock draw and supply concerns in Norway and Libya. However, analysts say there's little chance China will back down on the plan, which it considers crucial for developing its huge economy.

A potential implementation of the new tariffs on China will probably be a huge hit. President Donald Trump has threatened higher tariffs on more than $500 billion of goods, or almost all of China's annual exports to the United States.

The latest round of tariffs are subject to a period of consultation that runs until the end of August, meaning the trade friction will continue well into the autumn campaign season for the US midterm elections.

Orrin Hatch, the Republican Senate Finance Chairman, condemned the move as "reckless" and not "targeted", while U.S. stock index futures fell in early Asian trading.

The tariffs could lead to higher prices and job losses in a range of industries.

"Tariffs are taxes, plain and simple".

Even more tariffs could be on the way.

South Korea on Thursday warned that an escalating trade dispute between the United States and China could hit its exports of "intermediary goods" used in home appliances, computers and communications devices. He has not formally directed Lighthizer to prepare that list.

Related News:



Most liked

Why President Trump Just Lost Over 100,000 Twitter Followers
Twitter announced it was cracking down on locked accounts to "improve the health" of conversation on the platform. Trump's institutional account " POTUS " gained 8,339 followers on Thursday and lost 90,386 followers on Friday.

€56,000 statue gift for McGregor's birthday
McGregor, who turns 30 on July 14, will be gifted a hyperrealistic sculpture of himself by fan and artist Aspencrow . Some of the decisions he makes might not be correct, but none of us are ideal."And now it's officially weird".

Trump visit to United Kingdom begins on awkward note
They gathered under a big "baby Trump" blimp , showing him snarling and holding a mobile phone, dressed in only a nappy. It comes after London Mayor Sadiq Khan repeatedly called for the president's visit to the country to be canceled.

Insurers See 'Uncertainty' From Trump Administration Payment Halt
The administration is also pushing to broaden the definition of short-term insurance, which is also exempted from the ACA's rules. Now, months later, CMS has asked the New Mexico judge to reconsider the decision, and in the meantime, it suspended the program.

Conte 'disgusted' over his Chelsea sacking
But The Sun say Chelsea are hopeful that, now Sarri is in charge, the trio will decide to stay at Stamford Bridge. But Willian might not be the only current Chelsea player that will be glad to see the back of Conte.

Kate Middleton is ROYAL MASTER who 'LEADS family behind the scene'
Diana's favourite flower was the white rose, leading observers to think Kate was making a subtle tribute to her. The royals were greeted at the abbey doors by the Dean and Chapter of Westminster, before taking their seats.

Isaiah Thomas Will Hope To Reignite His Career With The Denver Nuggets
The Cavs soon shipped him to the Lakers, where he played 17 games before getting arthroscopic surgery on his right hip in April. Thomas finished last season with the Los Angeles Lakers after his trade from the Boston Celtics to the Cleveland Cavaliers .

Thai 'Wild Boars' return to training after teammates' rescue
Back in London Friday morning, British divers involved in the rescue said nothing like this has ever been done before. The trapped group in Thailand have now all been rescued from the cave, and are now recuperating in hospital.

How much do we really spend?
President Donald Trump's displeasure with the U.S.'s military allies over their relatively low defense spending is no secret. Trump will meet with Prime Minister Theresa May and Queen Elizabeth II before heading to Scotland on the four-day visit.

Sen. Baldwin won’t back Trump’s pick for Supreme Court
Once that is done and Kavanaugh has completed a questionnaire from the Judiciary Committee, formal hearings can begin. Four states - North Dakota, South Dakota, Mississippi, and Louisiana - would automatically ban abortions .

Royal Family celebrates Royal Air Force's 100th Anniversary
She stuck out her tongue as she arrived at her Uncle Harry and Aunt Meghan's wedding. The Duchess of Cambridge accessorised with her Air Cadets Dacre brooch.

Trap tests positive for West Nile virus
So far in 2018, no human cases of West Nile Virus have been identified in Windsor-Essex County. Dusk/Dawn - Avoid dusk and dawn activities during the summer when mosquitoes are most active.

Stephen Lynch was confused with Louie Gohmert during Peter Strzok hearing
Strzok's lawyer said he was escorted from the Federal Bureau of Investigation building last month as the disciplinary process proceeds.

Rosenstein Indicts 12 RUSSIAN AGENTS for 'Hacking' 2016 Election
But it makes it very hard to do something with Russian Federation . "But I love getting along with Russian Federation and China and other countries".

Chelsea confirm Antonio Conte's sacking with terse statement
Sarri's future has been up in the air since Napoli hired Carlo Ancelotti as their new coach in May. Thank you for everything boss". "Great man, Great manager.