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United States to slap 25% tariffs on another US$16b in Chinese goods

09 August 2018

The list is heavy on industrial products such as steam turbines and iron girders.

The Trump administration announced an expected second, $16 billion tranche of tariffs on Chinese goods Tuesday, bringing the total amount of Chinese exports subject to new US tariffs to $50 billion.

"We have made the case to the Administration, in the strongest possible terms, that tariffs imposed on semiconductors imported from China will hurt America's chipmakers, not China's, and will do nothing to stop China's problematic and discriminatory trade practices", he said. But it held off on a final $16 billion as a result of concerns raised by USA companies.

July's trade data was under the spotlight as it was the first reading since fresh USA tariffs on a wide range of Chinese goods went into effect.

The total could increase soon.

Last month, the U.S. imposed duties of 25 percent on Chinese imports worth $34bn. Those duties could be in place after a comment period ends on 6 September.

Prior to the beginning of what is being dubbed as a "trade war" Chinese electric bikes were subject to no tariff and motors just 4%.

While trade tensions are being ratcheting up, China's trade surplus with the USA stood at US$28.1 billion in July, close to the record-high in June, data released Wednesday showed.

China's exports to the United States rose 13.3 percent in the first seven months of 2018 from a year earlier, compared with a 13.5 percent rise in Jan-June. Schneider National Carriers Inc. and other firms testified during a hearing July 24-25 in Washington that there are no United States manufacturers and that the containers are nearly exclusively made in China.

Over the weekend, Trump said he had the upper hand in the trade war, while Beijing responded through state media by saying it was ready to endure the economic fallout. Representatives of Treasury Secretary Steven Mnuchin and Chinese Vice-Premier Liu He are having private conversations as they look for ways to reengage in negotiations, according to two people familiar with the efforts.

China's crude oil imports recovered slightly in July after falling for the previous two months, but were still among the lowest this year due to a drop-off in demand from the country's smaller independent, or "teapot", refineries.

China's levies will come into force at 12:01 on August 23, according to a statement on the finance ministry's web site.

US President Donald Trump started announcing new tariffs on imports in January as part of an attempt to negotiate what he called "fair, bilateral trade deals that bring jobs and industry back onto American shores".

United States to slap 25% tariffs on another US$16b in Chinese goods