US$200 billion in Chinese goods officially 'Tariffed!'

The Donald Trump administration is for the first time publicly planning for a trade spat that drags into 2019 and possibly beyond

The White House says it has made it very clear what the USA expects from China regarding trade, but since the country has not complied the president slapped Beijing with more tariffs.

Additionally, Trump said United States will tariff $267bn of additional Chinese imports if Beijing takes retaliatory action against U.S. farmers or other industries.

"Tariffs have put the a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country -and yet cost increases have thus far been nearly unnoticeable", Trump tweeted.

Trump threatened that nations that don't make "fair" deals withe US with getting "Tariffed" on Monday morning prepared to slap the trade rival with the expected $200 billion in penalties.

Unlike the $50b in Chinese products that Trump hit in the first tariff wave in July, which fell mainly on industrial goods, Monday's action will affect consumer products such as air conditioners, spark plugs, furniture and lamps.

Beijing's proposed retaliation to Trump's duties on an additional $200 billion in Chinese goods, set to take effect September 24, would mark the first time the country hasn't matched the United States tit for tat in the months-old commercial battle. The administration is targeting a variety of products - from sockeye salmon to bamboo mats - forcing US companies to scramble for suppliers outside China, absorb the import taxes or pass along the burden to their customers.

Goods to the United States, they noted, accounted a year ago for just 12 percent of China's total exports - and the trade war isn't exactly popular with the American business community.

At the same time, the administration said it is still open to negotiations with China.

Apple Inc. said last month the proposed duties on $200 billion cover a wide range of products used in its USA operations.U.S. stock futures edged lower, Asian equities slumped and European shares fluctuated amid investor concerns a heightened trade war will crimp corporate profits and undermine economic growth.

Executives complained the tariffs would make their products more expensive, costing them sales.

Apple Inc and, the world's top two companies by market capitalisation, fell 2.6 percent and 3.2 percent respectively, marking their biggest fall since late April, on worries about new tariffs, which were unveiled after USA market close on Monday.

"For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies", he said.

And China has retaliated in kind, hitting American soybeans, among other goods, in a shot at the president's supporters in the U.S. farm belt.

Michigan Governor Rick Snyder, known as a moderate Republican and a former computer executive, told Reuters on a trip to China that the anxiety and uncertainty around tariffs risked limiting Chinese investment in the United States. He has threatened to expand his tariffs to cover all Chinese imports, an escalation that many economists say would be costly.

The green light for the tariffs initially dragged US stocks lower, fueling drops in the Chinese yuan in offshore trading and gains in the dollar index.

Though China had begun discussing plans to attend, it is now rethinking whether to attend because of the possibility that new tariffs may be announced this week. It is nothing new for the United States to try to escalate tensions so as to exploit more gains at the negotiating table.

That is below the 25 percent the administration said it was considering for this possible round of tariffs.

The taxes will take effect from 24 September, starting at 10 percent and increasing to 25 percent from the start of next year.

The U.S. Trade Representative's office eliminated 297 product categories from the proposed tariff list, along with some subsets of other categories. Envoys from the two countries last met August 22 in Washington but reported no progress.



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