Trump administration threatens tariffs on another $200 billion in Chinese imports

12 July 2018, 07:30 | Isaac Mcdaniel

Canola is an “imperfect substitute” for soybeans Mike Drew Postmedia

Canola is an “imperfect substitute” for soybeans
Mike Drew  Postmedia

Li Chenggang, an assistant minister at the Commerce Ministry, had earlier told reporters that the United States is escalating the trade war, which is an irresponsible move.

More than 6,031 product lines are affected by the proposed tariffs, including seafood, fruits and vegetables, grains, tobacco, auto rearview mirrors and burglar alarms.

The new list published on Tuesday targets many more consumer goods than those covered under the tariffs imposed last week, raising the direct threat to consumers and retail firms and increasing the stakes for lawmakers in Trump's Republican party facing elections in November.

Grassley said the Trump administration tariff fight has "a very detrimental effect on current markets" and that the impact is rippling through other industries in his state beyond agriculture.

Goods to be targeted range from chemicals and construction materials to fabric and buttons to handbags and food products to boats and air conditioners - a sweeping inventory that would inflict economic pain across China's manufacturing sector while jacking up prices for USA businesses and consumers. It stems from Washington's belief that Beijing steals or pressures companies to hand over technology and worries that plans for state-led development of Chinese champions in robots and other fields might erode American industrial leadership.

"Trade experts we have consulted point to the potential for anti-U.S. social media campaigns, delays or blockage of regulatory approvals, travel bans, investment restrictions, among other options", Raymond James analyst Ed Mills said in a report.

'Tonight's announcement appears reckless and is not a targeted approach, ' Senate Finance Chairman Orrin Hatch said.

The U.S. said it had no choice but to move forward on the new tariffs after China failed to respond to the administration's concerns over unfair trade practices and Beijing's abuse of American intellectual property, according to two senior officials who spoke to reporters.

The move comes only days after the USA imposed $34 billion worth of tariffs on goods imported from Beijing.

Meanwhile, farmers hurt by Chinese tariffs on USA agricultural exports pose a political risk for Mr. Trump and for Republicans, especially as the November midterm elections loom.

France v Belgium Match Report, 10/07/2018, World Cup
At least the platform is there and they have the ideal players to execute a plan which wins duels to win games. They care about being ambassadors of Belgian football. "I can't answer that question right now".

U.S. charges hundreds in healthcare fraud, opioid crackdown
Among those charged were 76 doctors, 23 pharmacists, 19 nurses and other medical personnel, the announcement states. Centers for Disease Control and Prevention, 42,000 people in the U.S. died from opioid overdoses in 2016.

Jurgen Klopp delighted with Naby Keita's seamless Liverpool transition
Liverpool boss Jurgen Klopp says Naby Keita and Fabinho are still bedding down after their first week with the club. Liverpool have rejected a second loan offer from Celtic for forward Harry Wilson, according to Neil Jones of Goal .

"We have been very clear and detailed regarding the specific changes China should undertake", Lighthizer added.

The fight with China comes as Mr. Trump is also locked in a trade war with Canada, Mexico, the European Union and other USA allies.

Just days after firing the first shot in its trade skirmish with Beijing, the Trump administration unveiled a list of 6,000 Chinese products ranging from toilet paper to baseball gloves that will face a 10pc tariff.

The U.S. Trade Representative is taking comments on these proposed tariffs until August 17.

"The Chinese side is shocked by the actions of the U.S.", a statement on the ministry's website declared.

NAM urged the Trump administration to negotiate a trade treaty with China.

Containers are transferred at a port in Qingdao in China's eastern Shandong province on July 6, 2018.

However, the worst performing market was the Shanghai composite, which tumbled 1.8 per cent.

"China's failure to fully embrace the open, market-oriented policies on which this institution is founded must be addressed, either within the WTO or outside the WTO", Shea said according to prepared remarks released by the USA mission.



Other News

Trending Now

Samsung Galaxy Note 9 gets 3C certification in China
If that rumour proves to be true it could be good news for Samsung , which has had issues placing the sensor correctly . Price: The device is not going to be cheap and, as suggested earlier, you should budget approximately $1,000 for it.

Uruguay's Suarez vows all his best vs Ronaldo
With or without Ronaldo, Portugal will return to the field on September 10, when it will make its Nations League against Italy. The 33-year-old did, however, say that European champions Portugal could look forward to the future with confidence.

England number one Jordan Pickford eyeing top-spot in Group G
Phil Jones expects England's final group game against Belgium to bear all the hallmarks of a Premier League encounter. Launched into the shoulder of goalkeeper Joe Hart, Cahill broke his jaw and was ruled out of the tournament.

Pompeo hopes to 'fill in' details on denuclearization on North Korea trip
ABC News' Tara Palmieri reported Kim Yong Chol told Pompeo he would have to pay taxes for his frequent visits to North Korea. On Friday, Pompeo was welcomed by North Korea's Vice Chairman Kim Yong Chol and Foreign Minister Ri Yong Ho.

Meghan Markle And Harry Styles Are Nominated For The Same Award
Her in-laws are "frustrated" that Thomas keeps mouthing off the press, a palace insider told Us Weekly . Donning minimal makeup, the now-Duchess of Sussex's natural beauty shined through on her big day.

Lewis Hamilton on pole position for French Grand Prix
Mercedes brought an upgraded power unit to Le Castellet and Hamilton, who has yet to win in France, has been consistently quick. Another driver on somewhat of a high is Fernando Alonso, albeit not because of his faltering McLaren.

Feds Evict, Arrest Occupy ICE Activists at Portland ICE Facility
Philadelphia City Council member Helen Gym recorded and tweeted out video of the scenes. They say eight people were arrested. "They're talking about everyone".

'We care': Family separation protest flood U.S. cities
Attendees will include several women who also participated in Thursday's demonstration and were arrested by U.S. Rachel Gregory, 39, was one 575 activists arrested Thursday during a protest at a US Senate office building.

Hormuz Strait either for all, or for none: Iranian commander
The principal benefit Iran has experienced under the deal is a doubling of its oil exports to around 2.8 million barrels a day. Washington has since told allies they must stop buying the OPEC producer's oil from November 4 or face financial consequences.

Syrian troops celebrate seizing Jordan border crossing
It said the latest deaths bring to 65 the number of children reported killed in less than three weeks in southern Syria alone. Ibrahim al-Jabawi said the two sides were expected to hold talks this evening in the southern town of Bosra.