USA sets date for additional China tariffs

U.S.-China trade war update Motorcycles and railway cars are among the $16 billion in items U.S. is targeting next

U.S.-China trade war update Motorcycles and railway cars are among the $16 billion in items U.S. is targeting next

The duties are part of a broader round of tariffs on $50bn worth of goods the U.S. announced in March.

The move is the latest escalation of President Donald Trump's trade war with China. It represents the latest salvo in the ever-expanding trade war between the USA and China.

China's headline numbers are the first readings of the overall trade picture for the world's second-largest economy since United States duties on $34 billion of Chinese imports came into effect on July 6.

Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over market access, intellectual property, technology transfer and investment.

"We expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather than United States tariffs, the direct impact of which will continue to be mostly offset by the renminbi's (yuan's) recent depreciation".

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The United States and China implemented tariffs on $34billion worth of each other's goods in July.

The investigation had revealed that China uses joint venture requirements, foreign investment restrictions, and administrative review and licensing processes to require or pressure technology transfer from United States companies and it deprives USA companies of the ability to set market-based terms in licensing and other technology-related negotiations.

They appear far from a resolution. and according to US local news outlets, the USTR is reviewing the 10 percent tariffs on a further 200-billion USA dollars of Chinese imports...and is considering raising the rate to 25 percent.

April 4: China rolls out a listof more than 100 USA goods worth roughly $50 billion that are subject to retaliatory tariffs.

Mr Trump has said he would be willing to hit all of China's imports with duties.

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China's imports rose 27.3 percent year-on-year in July, in a sign domestic demand remains solid, but the worry is that the escalating Sino-U.S. trade war, rising corporate bankruptcies, and a steep decline in the yuan could put a significant dent on the economy.

ANZ senior China economist Betty Wang said Beijing will likely resist using its closely managed currency as a tool in the trade war.

May 19: After a meeting, the two countriesannounce the outline of a trade dealto avoid the tariffs.

July 10: TheUS releases an initial listof an additional $200 billion worth of Chinese goods that could be subject to a 10% tariff.

China fired back with its own warning and said it would impose duties on $60 billion of United States goods.

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Beijing has retaliated with its own duties on $34bn of U.S. goods. The Trump administration has been warned that its latest attack could hurt American companies.

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