China accuses U.S. of "trade bullyism" as both sides impose fresh tariffs

Lester Mason
September 24, 2018

Beijing has promised to strike back on Monday with duties on US$60 billion in American goods, bringing the total to US$110 billion, almost everything China buys from the United States.

The U.S. administration "has brazenly preached unilateralism, protectionism and economic hegemony, making false accusations against many countries and regions, particularly China, intimidating other countries through economic measures such as imposing tariffs", Xinhua quoted the State Council's white paper as saying.

Earlier this month, President Donald Trump threatened more tariffs on Chinese goods - another $267 billion worth of duties that would cover virtually all the goods China imports to the United States.

The State Council accused the Trump Administration of "abandoning the fundamental norms of mutual respect and equal consultation that guide global relations" since coming to office in 2017 as it pursued an America First trade policy.

The United States and China imposed fresh tariffs on each other's goods on Monday as the world's biggest economies showed no signs of backing down from an increasingly bitter trade dispute that is expected to knock global economic growth.

In an interview with Fox News on Sunday, Secretary of State Mike Pompeo said that the USA is "going to win" the so-called trade war.

The administration will levy tariffs of 10 percent on the $200 billion of Chinese products, with the tariffs to go up to 25 percent by the end of 2018.

Economists warn that a protracted dispute will eventually stunt growth not just in the USA and China but across the broader global economy.

The latest tariffs and the threat didn't deter Beijing from launching retaliatory tariffs on American goods worth $60 billion.

"Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook", the agency said in a report Friday.

A broad swath of products are on the hit list, including billions in Chinese-made voice data receivers, computer memory modules, automatic data processors, and accessories for office equipment such as copiers and banknote dispensers - instantly making widely used goods more expensive.

Dialogue between the world´s two biggest economies appears severed.

However, following complaints from thousands of USA firms - including powerhouses like Apple and Walmart - 300 product lines were dropped from the target list.

This week the USA sanctioned a Chinese military procurement organization, drawing a sharp protest from Beijing and a decision to postpone planned military talks.

Other reports by Iphone Fresh

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