Published: Wed, September 26, 2018
Worldwide | By Victor Meyer

Amid Trump's Trade War with China, Beijing Slashes Tariffs on Imports

Amid Trump's Trade War with China, Beijing Slashes Tariffs on Imports

On Monday, the Trump administration expanded tariffs on another $200 billion worth of Chinese imported goods. The list includes 5,745 full or partial lines of the original 6,031 tariff lines that were on a proposed list of Chinese imports announced in July.

In his statement, Trump noted that the tariff actions being taken are a result of the Section 301 process that the USTR has been leading for more than 12 months.

The Capitol Hill newspaper, The Hill, said that Senate Democratic Leader Charles Schumer "noted that he was more ideologically aligned with on trade than he was with Obama". But the retailer says that two-thirds of its spending on merchandise sold in the US goes to items that are grown, made or composed of parts produced in America.

China announced the following day it was instituting more tariffs of its own on $60 billion of American goods.

As the trade conflict between the United States and China goes on, it can sometimes feel like there's no end in sight.

Background: China cut tariffs on almost 200 consumer products in December 2017.

"On China-U.S. frictions, people should make preparations for the next 20 years", Ma reiterated at the World Economic Forum in the northern Chinese port city of Tianjin.

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It would be unreasonable, however, to expect any effort to compel China to alter its unfair business practices to leave USA companies completely unscathed. "There is no way to deliver the promise", he said.

Trump seems to think that China's economy is now so wobbly that the tariffs will push it over the edge, forcing it to come to the USA begging for mercy.

Trump's tariffs to sting USA businesses in China, but not force them to move back home - AmCham China Washington's latest decision to impose new tariffs on $200 billion worth of Chinese exports won't make China-based American companies relocate to the U.S., but will "cause suffering" for them, the American Chamber of Commerce says.

USCBC President Craig Allen also urged the Chinese government, which has announced plans to retaliated with $60 billion in new tariffs on USA, goods, to address concerns raised by the Trump administration on theft and transfer of US intellectual property and other unfair trade acts.

U.S. -China trade tensions affect American companies.

China remains an important market for American companies despite the challenges.

In retrospect, the Trump administration should clearly have worked more closely with those CEOs to design an approach to China the USA business community could embrace. "We urge the administration to think twice before slapping on this round of tariffs".

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