Trump Administration launches trade war measures against China

Trump announces 25% tariff on Chinese imports

Trump announces 25% tariff on Chinese imports

As trump warned of "additional tariffs" should Beijing hit back with tit-for-tat duties on American goods, china unveiled 25 percent duties on $50bn in us imports.

China says its tariffs will follow the same timeline as the new US ones, with the first wave hitting July 6, targeting 545 USA goods worth about $34 billion, including soybeans, whiskey, orange juice, electric cars, salmon and cigars.

And the China trade offensive is only one side of Trump's multi-front battle with all major U.S. economic partners.

Some 545 US goods worth $50 billion will be subject to 25 percent tariffs, the Wall Street Journal reported, citing China's state council.

Mr Trump has previously said that if China retaliated, he would impose tariffs on a further $US100b in goods.

The USTR's final list includes 1,102 product lines, down from about 1,300 initially, mainly focused on China's "Made In 2025" plan to become dominant in high-technology industries such as robotics, aerospace, industrial machinery and automobiles.

"The trade dispute is escalating at a time when doubts about the domestic economic picture are rising", said Mark Williams, Asia Economist at Capital Economics, in a note.

"(China) welcomes dialogue and is not afraid of trade war threats".

"China and the US have conducted several rounds of negotiations in an attempt to resolve our differences and achieve win-win results", a spokesperson for China's foreign ministry said on Friday.

The tit-for-tat trade measures amount to a sharp escalation of conflict between the US and China.

The Trump administration levied the tariffs to halt what it calls the "forced transfer of American technology and intellectual property" to China.

Trump has long complained about China's huge trade surplus with the United States.

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U.S. automakers, which have targeted China as a key growth market, are also slated to be hit by the bruising tariffs.

Early this year in April US President Donald Trump has tweeted, "When a vehicle is sent to the United States from China, there is a Tariff to be paid of 2 1/2 per cent".

Trump has triggered a trade war with Canada, Mexico and the European Union over steel and aluminum and has threatened to impose duties on European cars.

The American Soybean Association, which represents more than 300,000 soybean farmers, appealed to Congress last week to halt trade tariffs.

U.S. officials say Beijing has sought industrial dominance in the emerging technologies through the theft of American know-how through forced technology transfers, hacking and other forms industrial espionage.

The Chinese Commerce Ministry also says it will impose duties of "the same scale and intensity" in response to the Trump administration's move to slap tariffs on $50 billion of Chinese goods.

U.S. trade groups also stepped up their criticism of the spat.The American Apparel & Footwear Association (AAFA) said on Friday that China's retaliatory measures could harm American farmers and textile manufacturers and add costs to the industry's supply chain.

These include major American exports to China like soyabeans, which brought in $14 billion in sales past year, and are grown in states that supported Trump during the 2016 presidential election.

Other trade groups opposing the US tariffs included the Business Roundtable and the US Chamber of Commerce.

"A much more powerful way to stop China from moving up the value chain is to stop selling them semiconductors", Polk added.

Trump's tariffs may also influence his efforts to bring peace to the Korean peninsula following his summit with leader Kim Jong Un this week in Singapore.

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