U.S. sets date for additional China tariffs

A Chinese worker looks on as a cargo ship is loaded at a port in Qingdao Shandong Province

The tit-for-tat protectionist measures are poised to surge even higher, with the U.S. reviewing 10 percent duties on a further $200 billion in Chinese imports that it may even raise to 25 percent after a comment period ends on September 6.

At the same time, Beijing reported a $28.1bn trade surplus with the USA in July, just below the record $28.9bn seen in June. For instance, the major complaint is about the theft of USA intellectual property by Chinese firms.

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

The US will impose a 25% tariff on another $16 billion worth of Chinese goods starting August 23, US Trade Representative Robert Lighthizer announced Tuesday.

The new tariffs on US goods will be 25 percent.

China's July exports rose 12.2 percent from a year earlier, beating forecasts for a 10 percent increase according to the latest Reuters poll, and up from a 11.2 percent gain in June. China has responded with retaliatory tariffs of its own.

In June, China's crude oil imports had dropped for a second consecutive month and hit their lowest level since December 2017 on the back of trimmed purchases by the independent refiners-the so-called "teapots".


Looking forward, China tends to maintain strong imports, while exports are also likely to hold steady despite uncertainties rising from trade tensions with the United States, Bai said.

All China's main state newspapers published a lengthy commentary by the official Xinhua news agency, entitled "declaration", on their front pages.

"Certain people go against the tide for their own private ends and go against morality; the barrier of tariffs wantonly rise, and the stick of hegemony is raised all around", the commentary said.

China uses joint venture requirements, foreign investment restrictions, and administrative review and licensing processes to require or pressure technology transfer from USA companies.

The US products in line for tariffs include chemical items and diesel fuel.

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. So far, the USA and China have used a tit-for-tat strategy that has involved answering one country's increased tariffs with the other country boosting the amount too.

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