Chinese exports accelerate as fresh U.S. tariffs loom

The United States will begin collecting 25 percent tariffs on another $16 billion in Chinese goods on August 23, the U.S. Trade Representative's office said on Tuesday as it published a final tariff list targeting 279 imported product lines.

Washington already imposed tariffs on $34 billion in Chinese products on July 6.

"This second tranche of additional tariffs under Section 301 follows the first tranche of tariffs on approximately $34 billion of imports from China, which went into effect on July 6", it added.

As the U.S. -China trade spat turns into a full-blown war with tariffs and retaliatory tariffs and threats of further tariffs, U.S. energy exports to China may suffer with Beijing now following through with its threat to slap tariffs on U.S. oil and oil product imports.

China's surplus with the USA shrank marginally to $28.09 billion last month from a record $28.97 billion.

It is the second round of duties imposed by the countries as Washington and Beijing exchange tit-for-tat measures in an escalating trade war.


Sales to the U.S. rose by 13.3%, while China's surplus with the States shrank marginally to $28.1bn (£21.7bn) last month from a record $29bn (£22.4bn) in June.

There are very few domestic electric bike manufacturers to protect in the US, it was argued, meaning that the "trade war" simply damages a growth industry and one that brings green credentials at a time when they sorely need promotion.

Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over market access, intellectual property, technology transfer and investment.

China has already retaliated with duties of its own, and has pledged to match the United States dollar-for-dollar with new tariffs, including on the next $16 billion. The number of categories of goods subject to tariffs rose to 333 from 114 in the June draft, although the total value is unchanged. Tariffs would make US oil uncompetitive in China. China's exports to the United States fell by 2.5 percent to $41.5 billion month-on-month, while imports of U.S. goods plunged 1.5 percent to $13.4 billion, according to data from General Administration of Customs on Wednesday, as quoted by the media.

The latest $16 billion list from the United States will hit semiconductors from China, even though numerous basic chips in these products originate from the United States, Taiwan or South Korea.

"This is a very unreasonable practice", the Chinese commerce ministry said on Wednesday.

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