What impact will Trump's new tariffs on China have?

What impact will Trump's new tariffs on China have?

What impact will Trump's new tariffs on China have?

The threat of more tariffs on $60 billion in us products - and Trump's pledge to target an additional $267 billion in Chinese goods if that retaliation materializes - have anxious the American business community in China.

"We are ready to negotiate and talk with China any time that they are ready for serious and substantive negotiations towards free trade, to reduce tariffs and non tariff barriers, to open markets and allow the most competitive economy in the world - ours - to export more and more goods and services to China", Kudlow said.

In an earlier round of tariffs on $50 billion of goods, the Trump administration removed proposals on flat-panel television sets from the final list in June.

US President Donald Trump has said he will impose 10 percent US tariffs on about $200bn worth of Chinese imports, but he spared some consumer products.

Trump said China had refused to change the unfair practices that hurt USA businesses and workers.

There is a growing view in Beijing that US President Donald Trump has no intention of doing a deal with China on trade.

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"China needs to show that it will stand up to Trump and the United States in order to demonstrate to the rest of the world that it is now America's rival", said Shaun Rein, managing director at the China Market Research Group in Shanghai.

"But, so far, China has been unwilling to change its practices", he said.

Last week, Beijing said it welcomed overtures from U.S. officials offering to re-start trade talks, but press reports indicate China would call off any meetings if the new punitive duties take effect.

After a seven-week comment period, the administration announced that it had withdrawn several items from an earlier list of $200 billion in Chinese imports, including child-safety products such as bicycle helmets.

Geng said he would not comment on "hypotheticals" such as what measures Beijing might consider apart from tariffs on USA products, saying only that details would be released at the appropriate time.

In a victory for Apple and its United States customers, smart watches and some other consumer electronics products were removed from the latest list.

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Fang Xinghai, a senior Chinese regulator, voiced the possibility the new tariff will "poison" the trade talks.

"China may potentially pull out of trade talks entirely and escalate on the new front of outright export restrictions", analysts at JPMorgan told clients.

The result could be higher prices for American consumers, because most companies are expected to pass on the cost to their customers. More broadly, tariffs will lead to higher U.S. consumer prices, lower overall USA economic growth, and other unintended economic consequences. Billions of Dollars is being spent on new plants all around the country!' he wrote.

Mr Trump has claimed that the import levies have helped him to forge...

Smith also praised four former heads of the Office of the United States Trade Representative by name, saying that their efforts to try to "dismantle parochial interest has been herculean" and that people at the USTR have "done yeoman's work" the past few years.

FedEx (FDX) held its earnings call just as the Trump administration was announcing more tariffs on Chinese goods worth $200 billion that will take effect next week.

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