United States unveils list of products facing tariffs

The White House reportedly had a private meeting with tech industry representatives last week.                  Daniel Terdiman  CNET

The White House reportedly had a private meeting with tech industry representatives last week. Daniel Terdiman CNET

Washington farmers export more sweet cherries to China than any other country.

In July, the USA and China exchanged tariffs on $34 billion worth of goods.

Washington imposed 25% duties on $34bn (£26.3bn) of Chinese goods on 6 July in response to those complaints.

And the conflict is likely to escalate: The administration is preparing tariffs of up to 25 percent on an additional $200 billion in Chinese products.

Having claimed that "trade wars are good and easy to win", President Trump has said that he is prepared to hit up to $500 billion of Chinese goods with taxes in an attempt to reduce America's... "That's going to be the new reality".

As additional trade deals are signed, the president predicted that economic growth would "go much, much higher", a view at odds with his own administration's forecasts.

Over the weekend, Trump said he had the upper hand in the trade war, while Beijing responded through state media by saying it was ready to endure the economic fallout.

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Trump has claimed in recent tweets that "tariffs are working far better than anyone ever anticipated", linking them to a downturn that has shaved almost a quarter from the value of Chinese stocks since late January.

Imports also rose much faster in July thanks to still solid domestic demand, official data showed on Wednesday, with purchases of commodities like copper and iron ore rising from June. For instance, the major complaint is about the theft of U.S. intellectual property by Chinese firms. But it held off on a final $16 billion as a result of concerns raised by USA companies.

"There are only two hard outcomes so far and China's winning 2-0", Moon said.

The latest commentary from state media on Wednesday took a softer line after resorting to personal attacks against Trump earlier in the week, saying China could get through the storm but refrained from directly mentioning the USA president.

In March 2018, the USTR had released the findings of its "exhaustive" Section 301 investigation that found China's acts, policies and practices related to technology transfer, intellectual property, and innovation are "unreasonable and discriminatory and burden United States commerce".

The Office United States Trade Representative (USTR) announced the tariffs in a statement released on Tuesday afternoon US time. The list is heavy on industrial products such as steam turbines and iron girders. Year-on-year, the growth of China's exports to the United States slowed to 11 percent last month from 12.5 percent in June, while import growth accelerated to 11 percent from 9 percent.

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