US to slap tariffs on extra $200 billion of Chinese imports

US to slap tariffs on extra $200 billion of Chinese imports

The Trump administration said Tuesday it will publish a proposed list of an additional US$200 billion in Chinese products to be hit with tariffs, marking a sharp escalation in a trade war between the world's two largest economies.

In a statement USA trade representative Robert Lighthizer said these new additional tariffs are a result of "China's retaliation and failure to change its practices" after the first round of tariffs.

The public will have a chance to comment on the list before the new tariffs - to be imposed at 10% -come into effect.

On Friday, the US 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 Trump administration has accused companies in China of repeatedly committing intellectual property theft and other unfair trade practices, while it says China's government remains unresponsive to its concerns.

"For many years, China has pursued abusive trading practices with regard to intellectual property and innovation", Mr. Lighthizer said in a statement on Tuesday.

Also Monday, German automaker BMW AG said it would raise prices on US -built SUVs exported China due to higher tariffs.

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Chinese officials are expected to retaliate in other ways, hitting USA firms in China with unplanned inspections, delays in approving financial transactions and other administrative headaches.

"Rather than address our legitimate concerns, China has begun to retaliate against United States products".

The list of goods targeted by the tariffs has not been made public or approved yet, but the official cited by CNBC said that parts of it target the country's "Made in China 2025" initiative to boost key industries such as technology. China has vowed to retaliate dollar-for-dollar to any further United States tariffs.

The president has repeatedly described his resort to tariffs - which are paid by American importers - as a lever to extract negotiating concessions from USA trading partners.

"Unfortunately, China has not changed its behaviour - behaviour that puts the future of the USA economy at risk".

David Cohen, a political scientist at the University of Akron, said the pressure on Mr. Trump will mount as the economic pain spreads from affected companies to be more widely felt by consumers. That's why Trump can slap tariffs on them just because he feels like it.

"Xi Jinping and the Communist Party do not face midterm elections in November", Rank said of the Chinese president, who is no longer bound by term limits.

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