USA sets date for additional $16bn in tariffs on China products

Remigio Civitarese
Agosto 8, 2018

The investigation had revealed that China uses joint venture requirements, foreign investment restrictions, and administrative review and licensing processes to require or pressure technology transfer from USA companies and it deprives USA companies of the ability to set market-based terms in licensing and other technology-related negotiations.

The U.S. levied 25 per cent duties on US$34 billion in Chinese goods on July 6, prompting swift in-kind retaliation from Beijing. Washington has long criticised China's trade surplus with the United States and has demanded Beijing cut it.

After a strong start to the year, growth in the world's second-largest economy cooled slightly in the second quarter, partly hit by the government's years-long efforts to tackle debt risks.

Mr. Trump has continued to portray tariffs on foreign imports as good for the country, even as many Republicans and traditionally right-of-center groups preach their ills.

The United States has announced it will impose 25 percent tariffs on another 16 billion US dollar's worth of Chinese imports, starting in two weeks.

The worry is that the escalating Sino-US trade war, rising corporate bankruptcies, and a steep decline in the value of the yuan versus the dollar could put a significant dent on the economy.

Imports grew 27.3 percent in July, customs said, beating analysts' forecast of 16.2 percent growth, and compared with a 14.1 percent rise in June.

Cars to be exported are seen at a port in Lianyungang, Jiangsu province, China May 31, 2018.

The US says the tariffs are to penalise China for "unfair" trade practices.

Chinese state media, reflecting the government's stance, has said China will not be cowed in the face of US threats.

China has already retaliated with duties of its own, and has pledged to match the USA dollar for dollar with new tariffs. Last year, China imported about $130 billion of US goods.

But there seems no solution at sight as the Trump administration prepares for tariffs of up to 25 per cent on an additional United States dollars 200 billion in Chinese products.

It will be the second time the US slaps duties on Chinese goods in about the past month, despite complaints by American companies that such moves will raise business costs and eventually consumer prices.

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