Trump administration finalizes tariffs on $16 billion in Chinese goods

Elias Hubbard
August 8, 2018

The Trump administration has finalized a new round of 25 percent tariffs on an additional $16 billion in Chinese imports. They will take effect on August 23.

"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", SIA President John Neuffer said in a statement.

The Trump administration has deepened its trade war with China by announcing a new round of tariffs worth $US16 billion ($22 billion), a move the Chinese government has warned will trigger another round of retaliatory tariffs on U.S. exports.

Tuesday's announcement was not a surprise.

President Donald Trump announced the tariffs totaling $50 billion in April. After receiving public feedback, it cut 515 products from the list in June and added 284.

Beijing has already threatened to retaliate against U.S. products in kind, warning Washington against "blackmailing and pressuring".

The dispute has continued to escalate as the sides exchange threats, and Trump last week threatened to jack up the tariff rate on the next $200 billion in Chinese imports it plans to target to 25 percent, from the planned 10 percent.

Beijing has called on USA officials to be "cool headed", but fired back warning it would impose duties on an additional $60 billion in United States goods, a threat the White House dismissed as "weak". Chinese imports of goods and services into the United States previous year amounted to almost $524 billion.

Washington and Beijing are locked in battle over American accusations that China's export economy benefits from unfair policies and subsidies, and especially from the theft of American technological know-how.

Other reports by Click Lancashire

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