U.S. tariffs on China: Trump administration adds $16 billion

Washington had already imposed tariffs on Dollars 34 billion on July 6 but held off on a final USD 16 billion in goods as a result of concerns from U.S. companies.

"Looking ahead, we expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather than United States tariffs, the direct impact of which will continue to be mostly offset by the renminbi's (yuan's) recent depreciation", Capital Economics' Senior China Economist Julian Evans-Pritchard wrote in a note.

The trade representative said the tariffs were a response to an investigation, released this year, which found China's policies on technology transfer, intellectual property and innovation were unreasonable and discriminatory, and placed an unfair burden USA commerce.

Year-on-year, the growth of China's exports to the U.S. slowed to 11 percent last month from 12.5 percent in June, while import growth accelerated to 11 percent from 9 percent.

On Tuesday, the administration said it had made a decision to go ahead with tariffs on 279 of the 284 items added in June; they're worth about $16 billion a year.

"There is no off-ramp, and Trump has given China little wiggle room to save face and come to the bargaining table", he said.

Among the products removed from the earlier list on $16 billion of imports were shipping containers, including those used by freight companies.

USA president Donald Trump has threatened to target all $500bn of Chinese imports.

Margot Robbie Instagrams First Look At Her As Sharon Tate
The two are both struggling to make it in the entertainment industry "at the height of hippie Hollywood", as Tarantino describes. Wearing a black turtleneck, white mini skirt and white go-go boots, Robbie is the spitting image of the late star.

In July the surplus with the United States was at $28.09 billion, down a touch from $28.93 billion in June, according to Reuters calculations based on customs data released on Wednesday. Last week Trump threatened to jack up the tariff rate on the next $200 billion in Chinese imports it plans to target to 25 percent, from the previously stated 10 percent. There is a mandatory 60-day comment period for industries to ask for exemptions from the tariffs.

The surplus with the United States was higher than China's overall trade surplus in July, which was $28.05 billion, indicating China ran a net trade deficit with the world excluding the U.S.

The trade balance between the two countries, which is at the center of the tariffs tussle, continued to be in favor of China.

May 29: The White House announces the tariffs on $50 billion of Chinese goodswill move forward, with the final list of goods released June 15.

Last year, China imported about $130 billion of USA goods.

August 3: China announces that the country will impose tariffs of various rates on another $60 billion worth of U.S. goods if Trump moves forward with his latest threat.

They appear far from a resolution. and according to USA local news outlets, the USTR is reviewing the 10 percent tariffs on a further 200-billion US dollars of Chinese imports...and is considering raising the rate to 25 percent.

Latest News