US: New $ 200 billion in tariffs on Chinese products
The U.S. government has decided to impose additional 10 percent tariffs on $ 200 billion worth of Chinese imports since September, following the failure of negotiations between Washington and Beijing to resolve their trade disputes. Robert Leitheiser.
Laitheiser, US Trade Representative (USTR), said the list of products to be targeted was ready and that there would be a two-month process of public consultation on tariffs before their imposition was finalized.
The move marks a further escalation of the conflict between the world's two largest trade economies.
The administration of US President Donald Trump is constantly increasing the pressure on the trade war that has begun with China. Last week, additional tariffs were imposed on Chinese imports worth $ 34 billion. The measure was linked to the dispute over the protection of intellectual property. Beijing responded immediately by announcing customs duties of equal value.
Trump said last week that his administration could finally impose tariffs on $ 500 billion worth of Chinese imported goods. The amount cited by the Republican is roughly equal to the total value of Chinese exports to the US in 2017.
China has accused the United States of seeking to "destroy" bilateral trade, following Washington's announcement in September that it would impose additional 10 percent tariffs on $ 200 billion worth of Chinese imports.
"Large-scale reciprocal tariff increases between China and the United States will inevitably lead to the destruction of Sino-US trade," said Li Chenggang, China's Deputy Minister of Commerce, speaking at a forum in Beijing.
According to him, the new US punitive tariffs affect the system of the World Trade Organization (WTO) but also globalization.
For Li Chengang, the only right choice in the relationship between Beijing and Washington is cooperation.
According to him, the determination of the Chinese government to improve the domestic business environment and support the multilateral trading system will not be bent.
China's Ministry of Commerce on Wednesday declared unacceptable the new customs duties on Chinese goods worth another $ 200 billion announced by the US government in September, and said that Beijing would be forced to reciprocate .
In a statement, the Chinese Ministry of Commerce spoke of new "completely unacceptable" US threats and estimated that the "irrational" behavior of the government of Republican President Donald Trump will harm "China, the world, but also the United States."