Latest Round of Proposed Chinese Tariffs Includes Flooring

Trump Announces New Taxes on TVs and Air Conditioners

Trump Announces New Taxes on TVs and Air Conditioners

The Office of the US Trade Representative proposed 10 per cent tariffs Tuesday on a list of 6031 Chinese product lines.

Donald Trump is readying tariffs on another $200 billion in Chinese imports, escalating a trade war between the world's two biggest economies.

President Trump has escalated America's trade dispute with Beijing, ordering officials to impose tariffs on thousands more Chinese products worth $200 billion.

China vowed to challenge the "completely unacceptable" move at the World Trade Organisation as global stock markets fell back in Asia and Europe this morning.

It also includes consumer goods ranging from auto tyres, furniture, wood products, handbags and suitcases, to dog and cat food, baseball gloves, carpets, doors, bicycles, skis, golf bags, toilet paper and beauty products.

United States officials will hold hearings in late August on the list of targeted products and an administration official said it would take about two months to finalise, at which point Trump would decide whether to go ahead with the levies.

He published a 200-page report(PDF) listing more than 6,000 items, including food products, minerals and consumer goods such as handbags, that the USA plans to hit with the extra tax. That raises the risk China could retaliate in other ways, such as placing restrictions on us companies doing business in the country. In a statement, it called the USA actions "completely unacceptable".

The latest escalation in the trade dispute sent markets lower.

Chinese-made teddy bears carrying American hit movie Avengers characters are displayed inside an arcade game at a shopping mall in Beijing, Wednesday, July 11, 2018.

"The behavior of the U.S. is hurting China, hurting the world, and hurting itself", it said.


China's commerce ministry said on Wednesday it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate.

The S&P 500 and Dow futures dropped 1%, indicating Wall Street would open lower, while Japan's Nikkei declined 1.5%.

Mr Trump has threatened to tax $550bn (£415bn) in Chinese products - exceeding America's total imports from China past year.

Some US business groups and senior lawmakers were quick to criticise the move.

The country's Commerce Ministry earlier threatened "comprehensive measures", which were feared to include harassing American companies in China.

"Tonight's announcement appears reckless and is not a targeted approach", said Senate Finance Chair Orrin Hatch in a statement.

The President's tariffs are already squeezing some US firms, which have started to raise prices or lay off workers as a result.

"Tariffs on such a broad scope of products make it inconceivable that American consumers will dodge this tax increase as prices of everyday products will be forced to rise", he said. "It will also result in retaliatory tariffs, further hurting American workers", a Chamber spokeswoman said.

Tne Trump administration has announced additional China tariffs, say insiders.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.