China to hit U.S. with tariffs on United States imports worth $17bn

Lloyd Doyle
August 9, 2018

The Trump administration announced today that it will go ahead with imposing 25 percent tariffs on an additional $16 billion in Chinese imports.

The latest United States tariffs on 279 products, including motorcycles, speedometers and antennas, will also take effect August 23.

June 15: Trump rolls out thefinal list of goods subject to new tariffs.

In July, the US and China exchanged tariffs on $34 billion worth of goods.

China has already retaliated against the United States with its own tariffs and proposed others if Washington goes ahead with all its threats. So far, the USA and China have used a tit-for-tat strategy that has involved answering one country's increased tariffs with the other country boosting the amount too. The Chinese list covers coal, oil, chemicals and some medical equipment.

Washington has so far lined up an additional $200 billion in Chinese imports and last week Trump said he could raise tariffs on those products to 25 percent instead of the previously touted 10 percent. Big-ticket USA items that are still not on any list are crude oil and large aircraft.


The measure comes shortly after Washington released the latest list of Chinese goods worth $16 billion that are set to face a 25 percent tariff.

This round of tariffs is open to public comment until September 6th. -China tariff war as both sides dig into entrenched positions.

China's foreign trade maintained steady growth in the first seven months of this year despite escalating trade tensions with the United States, with data pointing to a more balanced trade picture. That's soon enough to be used by Trump as a rallying argument, but late enough so that adverse effects will not occur before January 2019.

The slight pick-up likely reflected some teapot plants returning from maintenance, while refining margins also improved thanks to higher domestic fuel prices, said James Gao of consultancy China Sublime Information Group.

The United States and China trade goods and services worth about $650 billion each year, the largest trading relationship in the world between two countries. China's exports to the U.S. fell by 2.5 percent to $41.5 billion month-on-month, while imports of U.S. goods plunged 1.5 percent to $13.4 billion, according to data from General Administration of Customs on Wednesday, as quoted by the media.

Other reports by Iphone Fresh

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