US may list tariffs on $200 billion more Chinese products

Dealing rooms were in sombre mood early

Dealing rooms were in sombre mood early

The Trump administration on July 6 imposed 25 per cent duties on US$34 billion in Chinese imports, the first time the president has implemented tariffs directly on Beijing after threatening to do so for months. The global tally for retaliation against U.S. exports, including by Canada, Mexico and the European Union over steel and aluminum tariffs, will be some $75 billion, according to an analysis by the U.S. Chamber of Commerce.

China, meanwhile has vowed to match any future tariffs dollar-for-dollar, signaling an escalating trade war between the two nations.

Trump last week said the United States may ultimately impose tariffs on more than $500 billion worth of Chinese goods - roughly the total amount of USA imports from China previous year.

"This is an appropriate response under the authority of Section 301 to obtain the elimination of China's harmful industrial policies", Lighthizer added.

The list includes agricultural products, minerals and consumer goods such as handbags, among other items.

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"Although I have supported the administration's targeted efforts to combat China's technology transfer regime, tonight's announcement appears reckless and is not a targeted approach", Hatch said in a statement.

"Trump's escalation of trade hostilities makes it increasingly hard to envision an exit path from an all-out trade war".

The United States began imposing tariffs on $34 billion in Chinese goods at 12:01 a.m. EDT (0401 GMT) on Friday.

Administration officials said they hoped the measures would convince the Chinese government to increase market access for U.S. companies and address allegations of the theft of intellectual property.

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