USA considers increasing planned tariffs on $270b in Chinese imports

USA considers increasing planned tariffs on $270b in Chinese imports

The US imposed 25 per cent tariffs on US$34 billion of Chinese goods in early July, with another US$16 billion to be targeted in coming weeks, drawing an in-kind retaliation from China.

The Trump administration had earlier threatened additional tariffs of $200 billion and has warned that it has more ammunition than Beijing in the escalating conflict.

" The US is playing a carrot-and-stick tactic on China, but this approach is not going to work on China", the Ministry said.

"They better not underestimate President Trump's determination to follow through on our asks".

Friday's threat targeting a smaller amount of USA goods reflects the fact that Beijing is running out products for retaliation due to its lopsided trade balance with the United States. Growth in factory output has begun slowing across advanced economies, while business leaders fear further escalation.

Donald Trump is ramping up the pressure on China.

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The public comment period on the US tariffs aimed at $US200 billion ends on August 30 after public hearings August 20-23, according to the US Trade Representative's office. On Friday Kudlow issued a stark warning to China.

Top White House economic adviser Larry Kudlow on Friday ridiculed China's threat of $60 billion of retaliatory tariffs as "weak" and said the world's second-largest economy was in "trouble".

Trump's tariffs target goods the White House says benefit from industrial policies such as "Made in China 2025", which calls for developing Chinese competitors in robotic, artificial intelligence and other fields.

Days later, Washington unveiled a list of another US$200 billion in Chinese goods, from areas as varied as electrical machinery, leather goods and seafood, that would be hit with 10 per cent import duties. At the same time, the U.S. indicated it is open to restarting formal negotiations with China, though Beijing must agree to open its markets to more competition and stop retaliating against United States trade measures.

The president has also imposed steel and import tariffs on several important trading partners, including the EU, Mexico and Canada, saying they are required to protect American jobs and industry.

While the tariffs imposed by the European Union still remain in place, the bloc has agreed not to implement more while negotiators from Washington and Brussels attempt to thrash out a deal.

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