China signals retaliation against new USA tariffs imminent
China signals retaliation against new USA tariffs imminent
U.S. delays 10% Chinese tariff on toys, electronics, games and clothes
17 August, 2019, 15:27
Specifically, "cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing" flowing from China into the USA will have an extra 10-per-cent added to their import tariffs from mid-December rather than early next month. However, for some of that gear, the tariff hike will be delayed to December 15, according to the United States Trade Representative a few hours ago.
"We hope the USA side will meet China halfway, and implement the consensus reached by the two leaders during their meeting in Osaka", said Hua Chunying, the foreign ministry's spokeswoman.
The United States Trade Representative (USTR) said it has removed a number of items from the list of products that will be subject to a 10 per cent tariff as of September 1, while delayed the implementation of the tariff on others.
US President Donald Trump said trade talks with China were "very productive" Tuesday after the US and Chinese negotiators spoke by telephone.
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Trump, who on numerous occasions has said American consumers aren't paying for his tariffs, toldreporters he was suspending them for the Christmas season "in case it had an impact on shopping", adding that the delay would "help a lot of people".
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Oil inches above $60 as US delays tariffs on Chinese goods Global economic worries, amplified by tariff conflicts and uncertainty over Brexit, are also hitting European economies. Both reports underlined the widening economic cracks as the trade war between the United States and China intensifies.
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In its one-sentence statement announcing the possible "countermeasures", Beijing did not go into detail on what they would entail and did not address how that might affect trade talks planned for next month in Washington.
"We've taken in close to $60 billion in tariff money".
The Trump administration said it would impose 10 percent penalties on an additional $300 billion worth of goods - a move that would cover almost all of China's exports to the USA - beginning September 1.
"They said they are going to buy farm products".
Trump also praised Chinese President Xi Jinping, calling him a "great leader" and saying he could quickly resolve the unrest in Hong Kong if he wanted to. In the U.S., Trump is facing mounting political pressure and increased costs to consumers. Treasury Secretary Steven Mnuchin also participated in the call, officials said.
"If anybody taxes them, it should be their home Country, the USA", Trump tweeted at the time.
Meanwhile the two sides are continuing trade negotiations, with a phone call due within the next two weeks, Navarro said. Hun Quach, vice president of global trade at the Retail Industry Leaders Association, welcomed the move, saying it "will mitigate some pain for consumers through the holiday shopping season".
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This would threaten the Good Friday Agreement and potentially risk a resumption of "the troubles" in Northern Ireland. Congress is split between Democrats, who control the House, and Trump's fellow Republicans, who control the Senate.
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