U.S. to impose tariffs on $200 bn in Chinese goods

Donald Trump

Trump has demanded that China cut its $375 billion trade surplus with the United States, end policies aimed at acquiring us technologies and intellectual property and roll back high-tech industrial subsidies.

There are hints of the two sides resuming talks that could mitigate or end the trade war, but Trump hasn't been willing to wait for these talks before imposing new tariffs. China responded with equivalent duties on United States goods. In many cases, though, it's not as simple as opening a new factory.

Apple warned last week that some of its most popular products, which are made mostly in China, might become costlier because the $200 billion in tariffs Trump is pushing to be implemented. It said the timing for activating the additional tariffs was still unclear. "That at the recent hearing on the US's additional tariffs on $200 billion worth of Chinese imports, the majority of the representatives believed that the additional tariffs will hurt USA enterprises or even destroy those affected industries".

A Treasury spokesman did not immediately respond to a query on the status of the China talks invitation.

White House chief economic adviser Larry Kudlow confirmed Wednesday that Mnuchin extended an invite to Chinese officials for a new round of talks. He wants China to buy more American products, open up China to more USA investment, and stop stealing US intellectual property, among other things.

President Donald Trump has told aides to precede with yet more tariffs on Chinese imports, according to reports in the United States. In July, China raised the tariff on imports of USA autos to 40 percent just days after broadly cutting duties on foreign-made vehicles and parts to 15 percent from 25 percent.

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"We encourage China to address the long standing concerns raised by the Unites States".

The US president has vowed to target an additional $200 billion of Chinese goods, which would include a tax on electronic parts and consumer goods.

Corporate executives increasingly think the trade dispute can be resolved only by direct talks between Trump and Xi.

So far, Beijing has imposed 25 per cent tariffs on Dollars 50 billion of American goods. "Talks without action won't do the trick".

The negative impact of the tariffs on USA firms has been "clear and far reaching", according to a joint survey by AmCham China and AmCham Shanghai. The two leaders may see each other at the United Nations General Assembly in NY this month and are scheduled to meet on the sidelines of the Group of 20 summit in Buenos Aires in November.

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