U.S. unveils $200 billion list of China imports for tariffs

Eileen GuzmanJul 12, 2018

Last week, Washington imposed 25 percent tariffs on $34 billion of Chinese imports, and Beijing responded immediately with matching tariffs on the same amount of U.S. exports to China. It includes fruit and vegetables, handbags, refrigerators, rain jackets and baseball gloves. China responded with levies of its own, targeting $34 billion in USA products such as pork and whiskey.

The list is subject to two months of finalization and input before possible implementation by President Donald Trump.

China and the United States face a wider trade war, after Beijing vowed on Wednesday to retaliate over Washington's threat to impose $200bn in additional tariffs on Chinese goods.

"We have been very clear and detailed regarding the specific changes China should undertake".

But the US action drew a swift reaction from the plastics and petrochemical industries, with the head of the Plastics Industry Association saying the tariffs would "boomerang" and hurt manufacturing.

The earliest they would come into effect is September.

"China's failure to fully embrace the open, market-oriented policies on which this institution is founded must be addressed, either within the WTO or outside the WTO", Shea said according to prepared remarks released by the U.S. mission.

As the trade war between the Unites States and China continues to escalate, Beijing has reportedly instructed its state run media to temper messaging on the issue.

Chinese tactics, the administration said, include outright cybertheft and forcing USA companies to hand over technology in exchange for access to the Chinese market.

Ivanka's company develops its goods exclusively in foreign countries (not exactly along the lines of her father's hard-hitting slogan to "buy American and hire American").

The policy is a top concern for United States officials. China is far more likely just to find other ways to hit back in kind. The new tariffs would kick in within 60 days.

China's imports of USA goods are so small that Beijing "cannot match fresh US tariffs", said Vishnu Varathan of Mizuho Bank in a report.

But China also faces difficulties in retaliating directly: it ships far more goods to the United States ($506 billion a year ago, according to USA figures) than come back in the opposite direction ($130 billion). "In order to safeguard the core interests of the country and the fundamental interests of the people, the Chinese government will, as always, have to make the necessary counter-measures".

Senate Finance Committee Chairman Orrin Hatch, a senior member of Trump's Republican Party, said the announcement "appears reckless and is not a targeted approach". "There is no justification for such action", he said in a statement.

The National Retail Federation, an industry group, warned about the impact on prices from the new measures.

"Pre-tariffs, the private sector was poised to invest $1.34 trillion in energy infrastructure to keep pace with surging production - supporting more than 1 million jobs each year on average through 2035".

President Trump published a list of Chinese goods he will give a tariff of 10 percent on, which are worth a total of £151 billion.

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