Trump imposes tariffs on $200 billion more of Chinese goods

The Donald Trump administration is for the first time publicly planning for a trade spat that drags into 2019 and possibly beyond

The Donald Trump administration is for the first time publicly planning for a trade spat that drags into 2019 and possibly beyond

White House spokeswoman Lindsay Walters declined comment on the timing of a possible announcement, but said: "The President has been clear that he and his administration will continue to take action to address China's unfair trade practices".

The taxes will take effect from 24 September, starting at 10% and increasing to 25% from the start of next year unless the two countries agree a deal.

Then last month, the escalating trade war moved up a gear when the U.S. brought in a 25% tax on a second wave of goods worth $16bn.

This addition brings tariffs to about half of all goods imported from China to the U.S. Tariffs increase the cost of goods to U.S. buyers, and lead to higher prices for the same items from domestic producers and imports from countries that have avoided tariffs.

The U.S. Trade Representative said safety products, including bicycle helmets, were among the 297 product categories removed from the list of proposed tariffs.

The Trump administration says its aggressive stance is to pressure Beijing to change policies that allow for the theft of U.S. technology and undercut American producers.

China said it will retaliate if the United States goes ahead with these tariffs, and there is a risk it may cancel their upcoming trade talks.

It is that simplistic (some might say ignorant) view of trade that has led the United States into trade confrontations with China, with its North American Free Trade Agreement partners Canada and Mexico, with South Korea and with Europe.

President Trump announced Monday that he is ordering 10 percent tariffs on $200 billion worth of imports from China.

China will reject new trade talks if President Donald Trump moves ahead with the next round of US tariffs on Chinese products, throwing into doubt the prospect of a diplomatic breakthrough, according to two people familiar with the matter.

Trump has already imposed 25 percent tariffs on $50 billion in Chinese goods.

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The United States will spare Apple's Watch and other consumer gadgets from the latest round of tariffs on Chinese goods, a senior administration official said in a last-minute reprieve for the technology industry on Monday (Sept 17).

Additional tariffs on $267 billion of imports from China would push the cumulative total beyond the amount of goods the US bought from the Asian nation a year ago. U.S. Treasury Secretary Steven Mnuchin last week invited top Chinese officials to a new round of talks, but thus far nothing has been scheduled.

Those included high-profile consumer products, such as smart watches, bicycle helmets, play pens and baby auto seats.

Trump's decision is a significant escalation of an already serious trade dispute between the world's two largest economies - one with seemingly no end in sight.

"For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies", Trump said.

FILE PHOTO - Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 12, 2018.

"But, so far, China has been unwilling to change its practices", he said.

China retaliated against the first round of tariffs in kind, hitting American soybeans among other goods.

"They want to make a deal", Trump said. "Hopefully, this trade situation will be resolved, in the end, by myself and President Xi of China, for whom I have great respect and affection". Chinese officials have suggested that planned talks between trade delegations from both countries will now not go ahead.

USA companies have already said they are anxious about the effect of higher costs on their businesses and warned of the risk of job cuts.

Trump has always been fiercely critical of China, accusing it during the 2016 campaign of "the rape" of the American economy and vowing to create a more balanced trade pattern.

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