Published: Sun, September 16, 2018
Finance | By Loren Pratt

US to impose tariffs on $200 bn in Chinese goods

US to impose tariffs on $200 bn in Chinese goods

In retaliation Beijing has pledged to hit back with tariffs on $60 billion of Us exports, including meat, coffee, furniture and vehicle parts.

The White House did not immediately respond to a request for comment. "We encourage China to address the long standing concerns raised by the United States".

"We are under no pressure to make a deal with China, they are under pressure to make a deal with us", Trump tweeted.

This week, the USA invited China to hold talks on the tariff dispute.

The International Monetary Fund has warned that an escalation of the tariff war could shave 0.5 percent off global growth by 2020. But Trump has signaled that he believes only the threat of real economic pain will coerce Beijing into major changes.

The tariffs come as a number of top White House advisers have been trying to de-escalate tensions between Trump and Chinese leader Xi Jinping. Last week Trump told reporters such a move could come 'very soon'.

The next round of United States tariffs on Chinese goods is likely to make thousands of products, including dishwashers, Fitbit fitness trackers and food seasonings, more expensive for American consumers, CNN reported.

US President Donald Trump is reported to have made a decision to impose another $US200b of tariffs on China.

Earlier this year, the U.S. also started charging levies on the imports of steel and aluminium from the European Union, Mexico and Canada.

Trump has already imposed 25 percent tariffs on steel imports and 10 percent on aluminum, as well as 25 percent on $50 billion in goods from China.

U.S. President Donald Trump hosts a reception for Congressional Medal of Honor recipients in the East Room of the White House in Washington, U.S., September 12, 2018.

"We welcome it", a Chinese foreign ministry spokesman told The Associated Press.

"For the near term, this combination of tactics seems to signal that unless and until China comes to the table with significant actions on the issues the hammering, the USA will keep tariff pressure going", said Claire Reade, a former US trade negotiator. The open question, of course, is how much action is enough and can China find a way to move that will be seen as being in its own interest, not kowtowing to the U.S.

This year, imports from China through July were up almost 9 percent from the same period of 2017, according to U.S. Census Bureau data. Depending on how the talks go, Liu may then speak with Trump.

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