China says United States ‘disappoints’ the world with trade war


In early July, the USA imposed 25 per cent tariffs on an initial $34 billion of Chinese goods.

The threats and counterthreats have stirred increasing unease from USA business and farm groups, which argue that they are the ones losing money and business based on all the new restrictions.

The dynamic has proved hard to change, given USA consumers' reliance on Chinese goods.

"We will give people a chance obviously to comment on the substantial effects of a 25 percent duty as oppose to a 10 percent duty", a senior administration official told reporters.

Trump believes that the gulf between how much China exports to the United States and how much the United States exports to China reflects unfair trade practices, which he has vowed to address through penalties on imports and a range of other measures.

Meanwhile, after the initial $34 billion worth of tariffs came into effect last month, a review of an additional $16 billion worth of tariffs on just under 300 separate products was initiated, with the deadline for public comments on those coming on Tuesday, July 31.

The possible change in tariff rate will alter a public comment period for the proposed tariffs on $200 billion worth of goods ranging from Chinese tilapia fish to furniture and lighting products, extending a comment deadline to September 5 from a previously announced deadline of August 30, the officials said.

"The Chinese side always believes that trade disputes must be resolved through talks and negotiations and our sincerity and efforts are there for the global community to see", he added.

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On Monday, US Secretary of State Mike Pompeo announced a plan to spend $113 million in Asia, a move that was widely seen as an attempt to counter China's growing influence in the region.

While talks earlier this week between Beijing and Washington were not fruitful, a decision by the Trump administration to impose tougher tariffs could soften China's stance or escalate the trade war between the world's two biggest economies.

Trump has ultimately threatened tariffs on over US$500 billion in Chinese goods, covering virtually all USA imports from China. "He's going to continue to put the pressure on China". Beijing responded by imposing the same penalties on the same amount of USA imports.

-China Business Council, said a 10 percent tariff on these products is already problematic, but more than doubling that to 25 percent would be much worse.

While a trade dispute is obviously not comparable to a shooting war, the current U.S.

"The money comes after farmers, especially soybean growers, have felt the brunt of retaliatory tariffs placed on agriculture by China and other nations that the Trump administration has penalized with tariffs on imports", NPR's Brian Naylor reported. "Given the scope of the products covered, about half of all imports from China are facing tariffs, including consumer goods", Ennis said.

Earlier this week, the White House said it was considering boosting tariffs on $200 billion worth of Chinese goods, raising those tariffs to 25 percent from 10 percent. "The cost increases will be passed on to customers, so it will affect most Americans' pocketbooks".

But if the United States is forced to carry out its threat and actually imposes 25 percent tariffs on $200 billion worth of additional items from China, hitting consumer goods will become inevitable.