Trump preparing additional tariffs on $200B in Chinese goods

Ivan Schwartz
July 11, 2018

The office of US Trade Representative Robert Lighthizer has released a list of Chinese products, running to nearly 200 pages, that will potentially be hit with a 10 per cent import tax as early as September. But the new tariffs will not be imposed until the end of a two-month public comment period.

The US has ramped up its trade war with China, outlining a list of $200bn (£150bn) worth of additional products it plans to place tariffs on.

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

The United States has chose to impose tariffs on $US200 billion ($279 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.

Trump said last week the United States may ultimately impose tariffs on more than $500 billion worth of Chinese goods - roughly the total amount of USA imports from China past year.

"Although I have supported the administration's targeted efforts to combat China's technology transfer regime, tonight's announcement appears reckless and is not a targeted approach", Hatch said in a statement.

Administration officials said the tariff fight is aimed at forcing China to stop stealing American intellectual property and to abandon policies that effectively force US companies to surrender their trade secrets in return for access to the Chinese market.

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The tariffs could take effect after public consultations end on August 30, according to a statement from the U.S. Trade Representative's office Tuesday.

According to the Ministry of Commerce, China considered the substitution of imports and the overall impact on trade and investment while making up a list of United States goods hit by import duties.

Harborn said other European companies are "scrambling to readjust supply chains" so that goods bound for the United States don't pass through China. China has vowed to retaliate dollar-for-dollar to any further US tariffs.

The American president told reporters that tariffs on an additional $16 billion in Chinese goods are set to take effect in two weeks.

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

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 US company. The official added that China has warned the US that future actions would be met with "economic attacks" on American markets.

Other reports by GizPress

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