‘Totally unacceptable’: Beijing vows retaliation if USA taxes $200bn of Chinese goods

‘Totally unacceptable’: Beijing vows retaliation if USA taxes $200bn of Chinese goods

Rather than address our legitimate concerns, China has begun to retaliate against US products. It was tit for tat.

On Tuesday the Trump Administration announced a large list of Chinese products that would be targeted with the next round of tariffs the government is threatening to impose. But China is well-placed to exploit the fact that United States companies operating there generate big profits.

With China's retaliatory tariffs, Tselikis said the United States lobster industry will further lose its edge over its archrivals, such as Canada, which struck a trade agreement with the European Union last year that will cut tariffs on lobsters in five years.

NAM urged the Trump administration to negotiate a trade treaty with China. See; our original assumption from the Chinese side is that Trump was looking for a deal; he was looking for the best deal.

China's next step in the escalating trade skirmish with the United States could be to target U.S. multinationals operating in China.

This latest move follows an earlier $50 billion tariff, which levied 25 percent import duties on Chinese goods used mainly for manufacturing. So what is the end to this?

Seems like President Trump is looking out for his little girl.

"As a result of China's retaliation and failure to change its practices, the President has ordered USTR to begin the process of imposing tariffs of 10 percent on an additional $200 billion of Chinese imports", U.S. Trade Representative Robert Lighthizer said.

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SUN: You are correct. Meanwhile, Senate Judiciary Chairman Chuck Grassley, R-Iowa, said the effects of the tariffs have been "very, very detrimental" and that he's "very, very nervous about it".

U.S. officials issued a list of thousands of Chinese imports the Trump administration wants to hit with the new tariffs, including hundreds of food products as well as tobacco, chemicals, coal, steel and aluminum. But that trade deficit also means China will run out of imports to tax long before America does. Most of the steel used in the United States comes from countries like China, Mexico and Canada - countries all now in a trade feud with the U.S.

The Trump administration said the new levies are a response to China's decision to retaliate against the first round of US tariffs.

SUN: The Chinese officials' argument is that officially speaking, legally speaking, the Chinese government does not have such a requirement for American companies to surrender their technology or transfer their technology. "And I don't think any of us know that exactly".

Rajiv Biswas said "For China, the USA is its largest export market, accounting for 19% of total Chinese exports".

The proportion of companies expecting to be profitable in China was basically flat at about 77 percent, the survey showed, but firms also signaled a slight pullback in investment. It left untouched USA -branded smartphones and laptop computers.

"A lot of the components sourced by U.S. companies are produced by Chinese companies", he said. They also hurt American companies.

Insufficient intellectual property rights protection and the need to get licences were the top two regulatory challenges, although slightly fewer companies found both to be a hindrance in the 2018 poll, compared with that of 2017.