China to hit United States with tariffs on U.S. imports worth $17bn

Trade war the US will charge 25 percent extra form China 279 items of $16 billion will be affected

Trade war the US will charge 25 percent extra form China 279 items of $16 billion will be affected

China is imposing additional tariffs of 25 percent on US$16 billion worth of U.S. goods, including steel products, autos and medical equipment, in a tit-for-tat move as a trade war between the two sides escalated. The U.S. Trade Representative's Office is looking into the possibility of a ten percent tariff on another $200 billion in Chinese goods. "The major concern right now in trade is China", Hogan said. The tariffs will go into effect on August 23.

In July, China's global exports surged 12 percent, even faster than an 11 percent increase in June.

Among the products removed from the earlier list on US$16 billion of imports were shipping containers, including those used by freight companies.

However, China remains very protectionist about which movies it allows to be shown. This is because the central demand of the United States administration is that China must not only reduce its trade deficit with the USA, but must also take action to wind back its plan to develop its industrial and technological base under the "Made in China 2025" program.

While trade tensions are being ratcheting up, China's trade surplus with the United States stood at $28.1bn in July, close to the record-high in June, data released yesterday showed. Since 2016 a handful more have been allowed in via a "cultural exchange" channel.

"China's trade surplus narrowed sharply last month, with imports surging as trade tensions with the US escalated...." Chinese state media has hit back at the U.S.in light of the levies that have been threatened, saying the Asian nation would retaliate. -China trade war. That first $34 billion came with a plan to implement a second tranche of tariffs on $16 billion in Chinese goods at an unspecified later date, to reach a total of $50 billion. Beijing says it is ready to retaliate against $60 billion of American imports.

To meet rising demand, PetroChina is in advanced discussions with top exporter Qatar to purchase LNG under short- and long-term agreements, sources said this week.

So far, Trump's supporters have stood beside him amid the trade disputes.

But a "negotiated truce is also possible," as "China now appears willing to discuss changes" to its Made in China 2025 initiative.

China's stance now is that a resolution of trade tensions must not block its further economic progress, but adjustments to Made in China 2025 could happen.

Workers transfer Lithium-ion batteries in a factory in Taizhou in east China's Jiangsu province. Australia, Indonesia and Malaysia are also nearby suppliers for LNG, which is expected to be part of China's next round of fire.

The customs tariff commission said the list has been appropriately adjusted after taking into account the advice of related government departments, industry associations, and enterprises to best protect the interest of domestic consumers and companies. This article is strictly for informational purposes only.

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