United States and China launch new round of tariffs on trade war
BEIJING/WASHINGTON: The United States began imposing 15% tariffs on a variety of Chinese products on Sunday, including footwear, smart watches and flat-screen TVs, as China began imposing new tariffs on U.S. crude, the latest escalation in a bruise trade war .
The president of the United States, Donald Trump, said the parties would still meet to talk later this month.
Trump, writing on Twitter, said his goal was to reduce US dependence. UU. In China and again urged American companies to find alternative suppliers outside of China.
A new round of tariffs took effect from 9:31 am (12:01am EDT), with Beijing’s levy of 5% on US crude marking the first time the fuel had been targeted since the world’s two largest economies started their trade war more than a year ago.
The Trump administration began on Sunday to collect 15% tariffs on more than $ 125 billion in Chinese imports, including smart speakers, Bluetooth headphones and clothing.
A variety of studies suggest that rates will cost US households up to $ 1,000 a year and the last round will affect a significant number of US consumer goods.
In retaliation, China began imposing additional tariffs on some of the US products on a target list of $ 75 billion. Beijing did not specify the value of goods that face higher tariffs since Sunday.
Additional tariffs of 5% and 10% were applied to 1,717 articles out of a total of 5,078 products originating in the United States. Beijing will begin charging additional tariffs on the rest as of December 15.
Steve Lamar, executive vice president of the American Apparel u0026 Footwear Association, said Sunday that the new rates were just in time for our most important sales season of the year. They claim that they are hurting China but, in reality, they are hurting us. Prices will go up, sales will go down, jobs will be lost.
He said the United States can make progress with China when we engage in calm and productive conversations, not when we make it more expensive for Americans to dress every day.
Trump quoted comments from US economist Peter Morici on Sunday, who said tariffs would not affect US consumers due to a fall in the Chinese currency, and the president asked US companies to look for suppliers outside of China.
We don't want to be servants of the Chinese! Trump said. “It's about American freedom. Redirect the supply chain. There is no reason to buy everything from China!
Later, he told reporters that talks with China continued and that the two sides would meet in person in September.
We are talking with China, the meeting still continues, as you know, in September, he said. We will see what happens, but we cannot allow China to scam us more as a country.
AFL-CIO President Richard Trumka told Fox News Sunday that Trump was right in confronting China, but unfortunately, he did it the wrong way. To face China, there must be a multilateral approach. A country cannot face China to try to reduce its excess capacity because they simply send it to you in other ways.
Chinese state media gave a challenging note.
The United States should learn to behave as a responsible global power and stop acting as a school stalker, the official Xinhua news agency said.
As the only superpower in the world, it must assume its proper responsibility and join other countries to make this world a better and more prosperous place. Only then can the United States be great again.
Tariffs could not impede the development of China, said the Popular Daily of the official Communist Party.
China's burgeoning economy has turned China into fertile investment ground that foreign companies cannot ignore, he said, in a comment under the name 'Zhong Sheng' or 'Voice of China', which is often used to express Your opinion about abroad. policy issues
Last month, Trump said he was raising existing and planned tariffs by 5% over about $ 550 billion in Chinese imports after Beijing announced its own retaliatory tariffs on US products.
The 15% tariffs on cell phones, laptops, toys and clothing will take effect on December 15.
The office of the US Trade Representative UU. He said Thursday that he would collect public comments until September 20 on a planned 30% tariff increase on a list of $ 250 billion assets that was already reached with a 25% tariff set for October 1.
The commercial teams of China and the United States continue talking and will meet in September.
For two years, the Trump administration has tried to pressure China to make radical changes in its intellectual property protection policies, forced technology transfers to Chinese companies, industrial subsidies and market access.
Trump has also linked trade talks and protests in Hong Kong, saying he believes negotiations with the United States have led Beijing to be more restricted in its response to demonstrations in Hong Kong.