President Trump Urges New Tariffs On $200 Billion In China Trade

Cornelia Mascio
Giugno 19, 2018

Trump threatened to continue the economic escalation, saying that if China retaliates against the second round of tariffs more would be imposed.

In a statement, Mr Trump said he had asked the United States trade representative to identify the Chinese products to be subject to the new tariffs.

He said the action by Beijing "clearly indicates its determination to keep the United States at a permanent and unfair disadvantage, which is reflected in our massive $376 billion trade imbalance in goods".

Last week, Mr. Trump announced plans for tariffs on $50 billion worth of imports from China in the technology sector, a move aimed at what he called "bringing balance to our trade relationship with China".

He has in recent weeks chose to implement steep tariffs against China and other key USA allies, despite warnings from congressional lawmakers that doing so could harm American workers and erase gains made from the Republican tax package.

President Trump said the new tariffs will go into effect unless China ends its malicious trade practices.

"It's not hard to imagine a scenario in which China encourages Saudi Arabia and Russian Federation, the world's top oil exporters and partners in the agreement to restrict output, to pump more crude", said Russell yesterday. "Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong", he said.

However and unfortunately, China has determined that it will raise tariffs on $50 billion worth of United States exports.

"The Chinese have probably calculated that they can take the pain from a trade conflict longer than Trump can, or at least longer than the USA. economy, companies and workers will be prepared to tolerate".

Pompeo raised the trade issue directly with China last week, when he met in Beijing with President Xi Jinping and others. "But the United States will no longer be taken advantage of on trade by China and other countries in the world".

Mr. Trump's comments came hours after the top US diplomat accused China of engaging in "predatory economics 101" and an "unprecedented level of larceny" of intellectual property.

The tariffs announced by the White House on Friday hit more than 1,100 Chinese products with a rate of 25 percent.

"Chinese leaders over these past few weeks have been claiming openness and globalization, but it's a joke".

Then China followed suit, unveiling 25 per cent duties on US$50 billion in U.S. imports - matching the USA rates.

"Coal miners count among Trump's most vocal backers, but if China does stop buying U.S. coking coal, it may force producers to accept lower prices from other buyers in order to move cargoes", said Russell.

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