China retaliates immediately after US announces tariffs

Dale Stagg  Adobe Stock

Dale Stagg Adobe Stock

The first package of revised tariffs will apply to $34 billion of Chinese imports, on 818 product lines, and will enter into effect from July 6. He said that China does not seek a trade war. "China does not want a trade war", the statement continues by promising to "fight back vigorously" in defense of globalization and the world trade system.

In all, 818 products representing $34 billion in US imports will fall under the new tariffs - less than the roughly 1,300 products the administration had initially considered.

"We will immediately take tariff measures of the same scale and intensity".

DeLauro said the Trump Commerce Department's disorderly implementation of trade enforcement tools failed to inspire confidence in the President's ability to appropriately hold the trading partners accountable.

The statement was issued after the USA president announced tariffs of 25 percent on $50 billion of Chinese imports, making good on a pledge to punish the alleged theft of United States intellectual property.

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

Trump on Friday followed through on a pledge to crack down on what he considers to be unfair trade practices by China, imposing tariffs on goods that "contain industrially significant technologies".

Mr Trump has vowed to fulfil his campaign pledge to crack down on what he contends are China's unfair trade practices and efforts to undermine U.S. technology and intellectual property.

According to the state media, Xinhua, the Chinese government imposed additional duties of 25 per cent on 659 items of American products, while also revealed a list of items which will be subjected to additional tariffs. "I have a wonderful relationship with President Xi [Jinping]".

"An escalating global trade dispute or widespread rises in import tariffs would have a marked negative impact on Germany's export oriented economy", it said. He again complained that he had been blindsided by Canadian Prime Minister Justin Trudeau's criticism of his tariff threats at a summit-ending news conference. Earlier, Chinese officials warned of mirror measures, pledging to introduce import tariffs on United States goods such as automobiles, aircraft, and soybeans. Administration officials said an additional 284 products are under review. The affected nations have appealed to the World Trade Organization (WTO), demanding compensation over what they call a "protectionist measure".

Schumer added: "While we await further details on this trade action, President Trump is right on target".

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