New US tariffs on China take effect with no compromise in sight


New US tariffs on China take effect with no compromise in sight

China, which has accused Washington of being insincere in the negotiations, has decided not to send Vice Premier Liu He to Washington this week, The Wall Street Journal reported late last week.

Earlier, the Trump administration said it needs to confront China over its trading practices to defend US long-term interests even as the escalation risks causing pain for American consumers.

The two countries have already slapped tariffs on $50 billion worth of each other's goods earlier this year.

On September 17, US President Donald Trump said he would impose 10 percent tariffs on about $200bn worth of Chinese products, prompting retaliatory measures from Beijing.

Beijing and Washington are locked in a festering trade war with both sides hitting each other's goods with tariffs worth billions.

The four-page section in Sunday's Des Moines Register, which carried the label "paid for and prepared exclusively by China Daily, an official publication of the People's Republic of China", featured such articles as one outlining how the trade dispute is forcing Chinese importers to turn to South America instead of the United States for soybeans.

Trade talks in Washington last month produced no meaningful progress.

On Saturday, Beijing cancelled scheduled talks with Washington meant to defuse trade tensions.

The U.S. will levy tariffs of 10 percent initially, rising to 25 percent at the end of 2018.

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China outlined a matching bump in tariff rates for the targeted $60 billion of goods, but it is running out of targets to even the score on Trump´s threatened third tariff wave.

This week the United States sanctioned a Chinese military procurement organisation, drawing a sharp protest from Beijing and a decision to postpone planned military talks.

The advertising targets a state critical to Trump and Republicans as the trade war between the world's two largest economies intensifies.

"With generic polls favouring the Democrats, they may feel that the trade environment will be less hostile after November 6".

Instead, it has warned of "qualitative" measures to retaliate.

China imports far less from the United States, making a dollar-for-dollar match on any new U.S. tariffs impossible.

FOX Business' Edward Lawrence reports on the exemptions included in the latest round of tariffs.

Some analysts say there is also a risk that China could allow its currency to weaken again to cushion the blow to its exporters.

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