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Trump announces tariffs on $50 billion in Chinese imports

19 Juin 2018

Those could come if China would impose new tariffs on USA goods, services, agricultural products, or raise non-tariff barriers, and take actions against American or companies operating in China, according to the statement. The USTR's list includes 1,102 product lines.

The U.S. tariffs are in addition to previously announced duties on imports of steel and aluminum from several countries, including China.

The US president said the new tariffs were created to punish China for the theft of American intellectual property and technology.

The Chinese commerce ministry announced that it would place equal tariffs on US goods, and said that all previous trade agreements with the USA are no longer valid. It also added, "China is a powerful guardian and has enough ammunition to defend existing trade rules and fairness". "They've taken so much", he said in an interview with Fox & Friends.

"We will immediately launch tariff measures that will match the scale and intensity of those launched by the United States, ' the official said".

Aircraft, included in the earlier Chinese list, were not on the revised list.

China's trade surplus with the USA previous year was about $375 billion. In fact, China's other trading partners like - Europe, Japan and few others, have also expressed similar concerns, but Trump has been unusually direct about challenging Beijing and threatening to disrupt such a large volume of exports.

"Imposing tariffs places the cost of China's unfair trade practices squarely on the shoulders of American consumers, manufacturers, farmers, and ranchers", said Thomas Donohue, president of the US Chamber of Commerce. Trump has also accused China of stealing USA technology and intellectual property. If that happens, Trump has threatened to escalate the war with tariffs on an additional $100 billion in Chinese goods. He again complained that he had been blindsided by Canadian Prime Minister Justin Trudeau's criticism of his tariff threats at a summit-ending news conference.

Beijing has announced its own tariff measures targeting Washington, following the White House's confirmation on Friday that a new round of duties against Chinese goods will go into effect in three weeks.

American businesses, however, are anxious that rising trade tensions will hurt US economic growth. Earlier, in mid-May, the United States and China had announced a cease-fire after two rounds of trade negotiations.

Since US and China trade tensions began heating up in April, Nelson has seen no shift in Chinese demand for US soybeans. "Those are crown jewels for this country", Trump said.

Trump announces tariffs on $50 billion in Chinese imports