White House Urges China Address ‘Unfair Trading Practices’ Not Tariff Retaliation

Gladys Abbott
August 8, 2018

President Donald Trump's administration has imposed duties on steel and aluminum imports, provoking retaliation by the United States' trade partners, including China, Canada, Mexico and the European Union.

The advocacy group Farmers for Free Trade said "more soy products" are on China's list for the additional tariffs.

USA agricultural producers in particular are feeling the sting of the trade war. "China is not delivering, OK?"

Despite the escalating trade row, the economy's resilience has been remarkable, said Tu Xinquan, director of the China Institute for WTO Studies at the University of International Business and Economics.

Several countries, including China, had a say in the matter because Qualcomm sells its products globally and the proposed merger could have been seen as giving the company a price monopoly, it said.

It is targeted at helping the American industry according to President Trump.

Vapers are the latest victims of the escalating China Trade War.

Taking into full consideration the interests of its people and companies, as well as the global value chain, the Chinese government made the decision to impose differentiated tariff rates targeting $60 billion worth of United States goods.

The announcement comes after US President Donald Trump threatened to raise the proposed tariffs on $200 billion of Chinese exports from 10 percent to 25 percent.

China stands poised to impose retaliatory tariffs on $60 billion worth of US imports, including coffee, honey and industrial chemicals, if Washington goes ahead with its latest trade threat.

Speaking just hours after China unveiled the countermeasures on Friday, Larry Kudlow, Trump's chief economic adviser, said the USA president was willing to follow through with his threats, in a stark warning to Beijing.

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A first round of tariffs came into effect on 6 July, when the USA imposed 25% taxes on $34bn of Chinese imports.

The attack on Donald Trump comes after Washington and Beijing last week exchanged fresh threats of imposing new tariffs, as part of a trade war kicked-off by the United States on July 6, Efe news reported.

But economists now worry that a continually widening trade deficit - which will be exacerbated if Trump keeps upping tariffs - will slow the US economy in the second half of the year, reports The Wall Street Journal. China vowed to retaliate while also urging Washington to act rationally and return to talks to resolve the dispute.

The new list includes products as varied as snow blowers and 3-D printers, suggesting Chinese authorities are struggling to find enough imports their own economy can do without.

Beijing's earlier round of tariffs appeared created to minimize the impact on the Chinese economy by targeting soybeans, whiskey and other goods available from Brazil, Australia and other suppliers. Those tariffs have already started to affect some businesses, though only a small fraction of the US economy is experiencing consequences.

Meanwhile, Chinese state TV said: "The White House's extreme pressure and blackmail are already clear to the global community". "Considering the unreasonable USA demands, a trade war is an act that aims to crush China's economic sovereignty, trying to force China to be a U.S. economic vassal".

June 19: Trump threatened to put 10 percent tariffs on an additional $200 billion of Chinese goods.

The U.S. hit back with tariffs on 1,300 Chinese goods worth $50 billion.

Trump's tariffs target goods the White House says benefit from industrial policies that China's trading partners say violate its market-opening pledges. On Friday, officials stepped in to cushion the yuan, which has been battered by trade tensions and was approaching the key level of seven to the dollar.

Speaking on the sidelines of a a Southeast Asian security conference also attended by the US Secretary of State Mike Pompeo in Singapore, Foreign Minister Wang Yi said China's threat of retaliatory tariffs was "fully justified and necessary". It had also become the largest buyer of USA crude oil outside of Canada, but Kpler, which tracks worldwide oil shipments, shows crude cargoes to China have also dropped off in recent months.

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