Trump Orders Tariffs On More Chinese Products Worth $200 Billion

  • Trump Orders Tariffs On More Chinese Products Worth $200 Billion

Trump Orders Tariffs On More Chinese Products Worth $200 Billion

So, as Trump's tariff hikes on Chinese imports keep ramping up, China is naturally running out of room to retaliate.

Officials are reportedly still working on the final list of products.

US President Donald Trump said last week that in addition to preparing tariffs on the further US$200 billion worth of goods, he had tariffs on an additional US$267 billion worth of goods ready "on short notice if I want".

The Trump administration imposed the first tariffs of $34bn on Chinese imports in July. "If nearly a half of American companies anticipate a strong negative impact from the next round of USA tariffs, then the US administration will be hurting the companies it should be helping".

More than 430 companies responded to the survey between August 29 and September 5, which Ken Jarrett, president of AmCham Shanghai, said had been conducted in part to provide AmCham with data for meetings with members of congress later this month. A meeting among cabinet-level officials could ease market worries over the escalating tariff war that threatens to engulf all trade between the world's two largest economies and raise costs for companies and consumers. The US President is trying to bring off his trifecta of trade deals after nailing the Europeans and the Mexicans with trade concessions, in the wake of his threats to nuke their products with tariffs.

Beijing has vowed further response if the U.S. imposes new tariffs.

"We share the concerns of the USA regarding China's trade and investment practices, but continuing along the path of tariff escalation is extremely risky", warned Harborn.

This is a sideshow to draw attention to the fact that the U.S. is a trade bully and China is looking for world economy support because they know most countries don't like the game Trump is playing.

The US leader has mentioned another US$200 billion worth of Chinese imports - and all other Chinese imports to the US market - but analysts believe the administration will change course and the situation will shift after the US mid-term elections in November. It was unclear whether any US-China talks would delay the duties.

Businesses received potentially good news on Wednesday after US Treasury Secretary Steven Mnuchin proposed a fresh round of trade talks between the economic superpowers to avert a full-blown trade war.

The biggest American business groups in China, AmCham China and AmCham Shanghai, jointly issued a survey Thursday that showed widespread impacts from the U.S.'s tariffs on China, and the resulting Chinese tariffs on the U.S. They said almost one-third are thinking about canceling or postponing investment decisions.

More than 52 per cent of respondents to the survey reported already suffering the consequences of such measures, mainly through increased inspections, slower customs clearance and "other complications from increased bureaucratic oversight or regulatory scrutiny". Some of them have criticized Trump's tactics but many echo USA complaints about Chinese market barriers and industrial strategy.