Thursday, 12 July 2018 20:08 WIB |
China expressed shock Wednesday at the Trump administration's decision to prepare 10-percent tariffs on another $200 billion of Chinese imports covering thousands of products, the latest move in an escalating trade war between the world's two largest economies.
China's commerce ministry called the decision totally unacceptable and vowed to respond.
The proposed new U.S. tariffs follow the decision to impose duties in two stages on $50 billion in Chinese goods. U.S. Trade Representative Robert Lighthizer said the Trump administration has patiently urged China to stop its unfair practices, open its market and engage in true market competition.
"Rather than address our legitimate concerns, China has begun to retaliate against U.S. products, Lighthizer said in a statement announcing the tariffs."There is no justification for such action."
The proposed tariffs come just days after the Trump administration imposed 25 percent tariffs on more than 800 Chinese products worth about $34 billion, citing what it calls China™s unfair trade practices and intellectual property theft.Beijing followed suit with an equal amount of levies on U.S. goods.
Christine McDaniel, a senior research fellow at George Mason University in Virginia, told VOA that while the Trump administration's actions have bipartisan congressional support, its strategy to date of tariffs and investment restrictions could be costly to U.S. manufacturers and consumers.
Source : VOA