US proposes $200B more in tariffs on Chinese imports

US proposes $200B more in tariffs on Chinese imports

The US has announced its plans to impose taxes on a further $200 billion worth of Chinese imports, in retaliation for China's retaliation to America's first round of tariffs.

USTR will hold hearings in late August on the list of targeted products, and an administration official said it would take about two months to finalize, at which point Trump would decide whether to go ahead with the tariffs.

The new list would mark the latest escalation of the trade war between the world's two biggest economies.

President Donald Trump vowed to hit back on a growing list of products after China retaliated in kind for the first round of 25 per cent tariffs on $34 billion worth of imports that Washington imposed last week.

The Trump administration said it cracked down on China for a range of trade practices involving intellectual property and technology that cost US companies an estimated $50 billion annually.

"For many years, China has pursued abusive trading practices with regard to intellectual property and innovation", Mr. Lighthizer said in a statement on Tuesday.

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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.

Instead of giving in, however, China hit back with dollar-for-dollar retaliatory tariffs on US products.

"This is where a painful situation gets more painful", said Phil Levy, a former White House economist in the George W. Bush administration. And China's retaliation was targeted at soy farmers and others in the U.S. Republican heartland. But China only bought about $135 billion in US goods previous year, meaning it will run out of American products to tax before it matches Trump's latest move.

Trump last month asked the U.S. Trade Representative's office to identify $200 billion of Chinese goods that could be hit with 10 percent tariffs.

President Donald Trump has said he may ultimately impose tariffs on more than $500 billion worth of Chinese goods - roughly the total amount of US imports from China previous year. "Unfortunately, China has not changed its behaviour".

The U.S.is now considering levying duties on a further $16 billion in Chinese goods, after a public hearing later this month. "Moreover, they will blame any economic troubles on Trump and the United States".

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