Donald Trump to impose tariffs on China


Donald Trump to impose tariffs on China

We lost $500 billion in trade deficits a year ago. The Trump-led tariffs apply to almost 1,100 Chinese exports ranging from automobile and manufacturing hardware to aerospace and robotics.

The moves increase the trade dispute between the world's two largest economies. "China could be a little bit upset about trade because we are very strongly clamping down on trade", the president said in a Fox News interview on Wednesday.

China has "long been engaging in several unfair practices related to the acquisition of American intellectual property and technology".

In addition, they will serve as an initial step toward bringing balance to the trade relationship between the U.S. and China, he asserted.

The 28 members of the European Union agreed Thursday that retaliatory tariffs would go into effect in the coming days. "All the results from the negotiations previously reached by the two parties will be invalid", said the ministry.

But Beijing's Commerce Ministry retorted in a statement: "The Chinese side doesn't want to fight a trade war, but facing the shortsightedness of the us side, China has to fight back strongly".

Trump has resorted to tariffs with an enthusiasm not seen in an American president in at least 80 years. "There is still more work to be done by China and the United States to get to the ultimate outcome".

President Trump has approved tariffs on $50billion worth of Chinese goods which could come into force today, it has been reported.

China's Ministry of Commerce had promised swift retaliation after Trump announced the tariffs on Friday morning.

He said tariffs place "the cost of China's unfair trade practices squarely on the shoulders of American consumers, manufacturers, farmers, and ranchers".

Responding to US President Donald Trump's decision to impose tariffs on $50 billion worth of Chinese imports, Beijing has adopted a 25 percent tariff on 659 American products worth the same amount.

Trump's new 25 percent tariffs will target $50 billion in Chinese imports across a wide variety of industries.

Beijing has announced its own tariff measures targeting Washington, following the White House's confirmation on Friday that a new round of duties against Chinese goods will go into effect in three weeks. China has previously promised to respond with retaliatory tariffs on U.S. products such as cars, planes and soybeans.

"China is our real trade enemy, and their theft of intellectual property and their refusal to let our companies compete fairly threatens millions of future American jobs", Schumer said.

The list is meant to minimise the impact on USA consumers and businesses by selecting goods where there are ample alternative supplies from other countries. "We call on all countries to act together to firmly stop such an outdated and backward move, and to firmly safeguard the common interest of all mankind". It says it wants to stop the transfer of United States products and designs over to Chinese companies.

A further round of trade talks in Beijing earlier this month failed to yield any breakthroughs.

Those penalties have been met with consternation by world leaders, and led to a fraught G7 meeting with Canada, France, Germany, Italy, Japan and the United Kingdom, last weekend.

Brussels, Ottawa, Beijing and Mexico City already have shown they intend to inflict damage on export industries in politically-sensitive voting districts - something which could prove damaging to Republicans already facing a loss of power in November's mid-term elections.



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