Trade war: US proposes $50 billion tariffs on 1,300 Chinese products

Apr 04 2018 09:34 AM
Trade war: US proposes $50 billion tariffs on 1,300 Chinese products

 

 

The United States today declared a proposed list of products imported from China that could be focus to add extra tariffs of 25 per cent amounting to USD 50 billion.

The US Trade Representative (USTR) said the proposed list of products is based on wide-ranging interagency economic analysis and would mark products that promote from China's industrial plans while minimizing the collision on the US economy.

Sectors subject to the proposed tariffs take in industries such as aerospace, information and communication technology, robotics, and machinery.

The list covers about 1,300 separate tariff lines and will undertake further review in a public notice and comment process, including a hearing. After completion of this process, the USTR will subject a final determination on the products for the additional duties.

The total value of imports subject to the tariff raise is proportionate with an economic analysis of the harm caused by China's bad-tempered technology transfer policies to the US economy, the USTR said.

China had announced yesterday that its door for discussion with the Trump administration is open but if there is a trade war it will "fight till the end". The comments came a day after Beijing imposed tariffs on 128 American products as reprisal against US duties on steel and aluminium.

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