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US lists US$200b in Chinese goods to be hit with tariffs

11 July 2018

President Donald Trump last month threatened additional tariffs against China if it retaliated.

The Trump administration pushed ahead with plans to impose tariffs on additional $200 billion in Chinese products by releasing a list of targets, marking a sharp escalation in a trade war between the world's two largest economies.

The list includes agricultural products, minerals and consumer goods such as handbags, among other items.

The Trump administration announced Tuesday that it had has begun the process of implementing fresh tariffs on $200 billion worth of imported Chinese goods.

US Senate Finance Committe chairman Orrin Hatch labelled the move as "reckless", while the US retail industry leaders assocation immediately condemned the move, saying the "the President has broken his promise". High-level talks between the two countries starting in May failed to deliver a breakthrough to head off a trade war. Assuming that happens as planned, the Trump administration will have levied tariffs on over $100 billion in imports into the United States.

A ship carrying USA soybeans took off for China last week just before the Asian country's retaliatory tariffs went into effect.

The additional USA tariffs, which will go through a two-month approval process including a public hearing, come after China retaliated in a tit-for-tat trade skirmish last week.

Beijing thus far has vowed to respond in kind to any US trade action.

Chinese officials are expected to retaliate in other ways, hitting US firms in China with unplanned inspections, delays in approving financial transactions and other administrative headaches. But Trump hasn't backed down, arguing that China's unfair trading practices are hurting American workers.

US lists US$200b in Chinese goods to be hit with tariffs