The United States adds 200 billion US dollars on Chinese product tariffs, including clothing and textiles.
In July 10th, the US government issued a list of tariffs on China plus 10% tariffs on China’s $200 billion product. Trump has recently threatened to aggravate the trade war with China.
Robert Lighthizer, US trade representative, said: “we are considering tariffs on China’s $200 billion product, which just makes the Sino US trade balance.” The tariff will not take effect immediately, but it will take a two month review process at the hearing in from August 20th to 23rd.
The official said the official said the tariff was mainly aimed at some of the products made from China’s 2025 plan, including chemicals, textiles, food, clothing and handbags, electronic products, metal products and soda products. The protective products industry will also be affected, including shampoo and cosmetics. When making tariff lists, the US trade representative mainly considered some products that might interfere with China’s economy.
Lighthizer said the US government has clearly expressed concern about the trade deficit between China and the United States, but China has not responded. “Over the past year, Trump has been patiently urging China to stop unfair trade practices, open markets and fair market competition,” he said. But China not only does not seriously handle our legitimate concerns, but also implements retaliatory tariffs on us products.
Trump warned that if China retaliated against US $34 billion in July 6th, he could impose tariffs on at least 500 billion US dollars in China.
Despite the threat of Trump, China imposed retaliatory tariffs on the United States shortly after the $34 billion tariff came into effect. Trump has repeatedly threatened to aggravate the trade war with China. The Sino US trade war has also disrupted the global financial market order, including stocks, currencies and trade in commodities from soybeans to coal.
Trump’s duty to levy tariffs on China and the European Union, Canada and Mexico has been condemned by foreign and domestic trade friendly legislators. Some countries have announced retaliatory tariffs and other measures against the United States, and American industrial companies have said trade wars have forced them to postpone expansion and overseas investment plans.