Published: Wed, July 11, 2018
Money | By Ralph Mccoy

US lists US$200b in Chinese goods to be hit with tariffs

US lists US$200b in Chinese goods to be hit with tariffs

On Friday, Beijing retaliated with mirror measures against USA imports hours after Washington introduced 25 percent trade tariffs on $34 billion worth of Chinese goods. The proposed list of goods includes consumer items such as clothing, television components and refrigerators as well as other high-tech items, but it omitted some high-profile products like mobile phones.

In the case of the China-U.S. squabble, Trump imposed aluminum and steel tariffs in early March in order to protect those American industries.

Many others in the USA are already feeling the effects of the tariffs. Rather than address our legitimate concerns, China has begun to retaliate against USA products.

The move drew immediate condemnation from Senate Finance Chairman Orrin Hatch, a Republican from Utah, who called it "reckless" and not "targeted".

The move makes good on the president's threat to respond to China's retaliation for the initial us tariffs on $34 billion in Chinese goods, which went into effect on Friday and would eventually place almost half of all Chinese imports under tariffs.

Ivanka's products remain untouched by these tariffs and the fashion line is continuing to work with and create order contracts for Chinese shoe suppliers, such as Chengdu Kameido Shoes and Hangzhou HS Fashion.

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President Donald Trump last month threatened additional tariffs against China if it retaliated.

On Friday, the USA slapped 25 percent taxes on $34 billion in Chinese imports, a lot of them are industrial goods that the Trump administration says receive subsidies or other unfair support from Beijing.

The International Monetary Fund has warned that a full-blown trade war could undermine the broadest global upswing in years.

U.S. Trade Representative Robert Lighthizer said the United States would impose tariffs of 10 percent on the additional Chinese imports.

It said Corning was among the companies that would be affected by the higher duties.

America's trade war with China is back on.

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