Trump makes China tariffs official



The wording contrasts with attempts from some USA officials such as Trump trade advisor Peter Navarro to use more toned-down vocabulary-with Navarro characterizing the back-and-forth between the two nations as a "trade dispute" instead.

China responded to US tariffs announced Friday morning with a promise to impose reciprocal levies on a range of American products, including agricultural products, cars and seafood.

The 25% tariffs will take effect from July 6 on $34 billion worth of Chinese goods, the office of the US Trade Representative (USTR) announced on Friday.

The administration also is targeting another 284 Chinese products, which the administration says benefit from China's aggressive industrial policies, worth $16 billion a year but won't impose those tariffs until it collects public comment.

Trump's revised tariff list might exclude some consumer items from an earlier proposal to focus more on goods related to Beijing's "Made in China 2025" program, Eurasia Group said in a report.

"We have the great brain power in Silicon Valley, and China and others steal those secrets", Trump said on "Fox & Friends".

"China has, for example, always been engaging in several unfair practices related to the acquisition of American intellectual property and technology", Trump said in the statement issued by the White House.

Trump reportedly met Thursday with several Cabinet members and trade advisers and was expected to impose tariffs on at least $35 billion to $40 billion of Chinese imports. "Those are crown jewels for this country", Trump said.

ASA has twice requested a meeting with Trump to discuss how increasing soy exports to China can be a part of the solution to the US trade deficit "without resorting to devastating tariffs".

Earlier today China's foreign ministry said it would hit back Donald Trump's plans to plaster tariffs on its imports. The Dow Jones industrial average was down more than 220 points in mid-afternoon trading. It has previously said American products targeted for tariffs would include United States aircraft and soybeans.

"A trade war never benefits anyone, so rather than pursuing a piecemeal tariffs approach, now is the time to seize the opportunity before us and work toward a U.S". It says it wants to stop the transfer of United States products and designs over to Chinese companies.

The U.S. and China have been holding negotiations over the trade dispute.

Trump has long complained about China's huge trade surplus with the United States.

While ripped by lawmakers on both sides of the aisle of levying steel and aluminum tariffs on Canada and Mexico, Senate Minority Leader Chuck Schumer (D-N.Y.) praised President Trump's new tariff decision on Chinese imports "on the money".

"We will immediately introduce tariff measures of the same scale and strength". China's interest in USA lobster has grown exponentially in recent years, and selling to China has become a major focus of the lobster industry. "These tariffs won't reduce or eliminate China's abusive trade practices, but they will strain the budgets of working families by raising consumer prices". The Communist Party-run government countered with a list of goods slated for tariffs, including cars and farm products, that could cause political damage for Republicans.

The statement also said China was not going forward with deals to buy more American goods. Trump claims China's theft of American intellectual property and technology made the tariffs a necessary part of conducting business.

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