China set to respond to new round of USA tariffs

U.S.-China trade war update Motorcycles and railway cars are among the $16 billion in items U.S. is targeting next

Trump going ahead with tariffs on $16B in Chinese imports

President Trump had repeatedly expressed discontent over the U.S. trade deficit with China, accusing the country of unfair trade practices, intellectual property theft, currency manipulation, and of providing state aid to Chinese firms. But it was 11 percent higher than in the same month a year ago.

The administration is preparing tariffs of up to 25 percent on an additional $200 billion in Chinese products.

According to the United States Census Bureau, the country exported $10.2 billion in new and used passenger cars to China in 2017. It was further argued by trade representatives in Washington during a July hearing that the tariffs would cause meaningless harm to the bike business and consumers.

China placed tariffs on USA imports including pork and soybeans.

"With each successive round of tariffs, Trump continues to back China into a corner, forcing Beijing to respond in kind", said James Zimmerman, a partner in the Beijing office of global law firm Perkins Coie and a former chairman of the American Chamber of Commerce in China.

In June, China's crude oil imports had dropped for a second consecutive month and hit their lowest level since December 2017 on the back of trimmed purchases by the independent refiners-the so-called "teapots". Fuel imports rose 14 percent on year at 2.67 million tonnes.

In July the surplus with the United States was at $28.09 billion, down a touch from $28.93 billion in June, according to Reuters calculations based on customs data released on Wednesday.




China's announcement is a direct response to new duties on Chinese goods imported into the United States, announced Tuesday in Washington.

For January-July, the surplus with the US rose to $161.63 billion, compared with about $142.75 billion in the same period previous year.

China's headline numbers are the first readings of the overall trade picture for the world's second-largest economy since USA duties on $34 billion of Chinese imports came into effect on July 6.

March 1: President Donald Trump announcestariffs on all imports of steel and aluminum, including metals from China.

Beijing has called on USA officials to be "cool headed", but fired back warning it would impose duties on an additional US$60 billion in United States goods, a threat the White House dismissed as "weak".

The US decision to levy 25 percent tariffs on the same value of Chinese goods is "very unreasonable", and China will have to retaliate to protect its rightful interests and the multilateral trading system, China's ministry of commerce said in a statement.

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