U.S. proposes tariffs on $200 billion more in Chinese imports
Jul 11, 2018, 04:26
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.
The new list would mark the latest escalation of the trade war between the world's two biggest economies.
The tariff list could be released as soon as Tuesday, and likely this week, the report said.
"As in the past, the United States is willing to engage in efforts that could lead to a resolution of our concerns about China's unfair trade practices and to China opening its market to U.S. goods and services", he said.
This most recent maneuver follows a threat President Trump made last month, and comes days after the US and China imposed tit-for-tat tariffs on more than $30 billion in goods. "There is no justification for such action", he said in a statement.
"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", said Sen.
"For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition", U.S. Trade Representative Robert Lighthizer said in announcing the proposed tariffs.
The U.S.is now considering levying duties on a further $16 billion in Chinese goods, after a public hearing later this month. These tactics include the outright theft of trade secrets, government subsidies to homegrown tech firms and demands that US and other foreign companies hand over technology if they want access to China's vast market.
America's trade war with China is back on. Beijing immediately retaliated with similar duties on US exports.
The International Monetary Fund has warned that a full-blown trade war could undermine the broadest global upswing in years. Since then, the president has said his administration could impose duties on virtually all Chinese imports into the U.S.
The White House has complained that China has used predatory practices in a relentless push to grant Chinese companies an unfair advantage in the industries of the future, including robotics, electric cars and biopharmaceuticals.
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