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US slaps tariffs on another $16 billion in Chinese goods

foodmate 2018-08-24
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The United States Thursday imposed steep import tariffs on another $16 billion in Chinese goods connected to what Washington has called ‘rampant theft of American technology’, even as trade negotiators were in talks to avert further confrontations.

The latest action completes the first round of $50 billion in products that President Trump targeted, after $34 billion in goods were hit with punitive duties on July 6.

China has said it will react immediately with tariffs on the same amount of US goods, targeting iconic products like Harley motorcycles, bourbon and orange juice, among hundreds of others. It came as the worlds two largest economies were holding their first formal discussion since June on the spiralling and multifaceted trade war.

Trump has pushed aggressive trade actions to lower the US trade deficit, which he equates with theft from Americans. But US trading partners have retaliated aggressively, which is hurting American farmers, manufacturers and consumers.

Commerce Secretary Wilbur Ross said China will not be able to continue to retaliate at the same pace as the United States.

Thousands of large and small companies and industry groups have urged the Trump administration to reconsider the tariffs which some say could put them out of business.

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