US sets date for additional China tariffs

From: www.eaglesight.net
publisher: Frank
Time: 2018-08-10
Summary: The US has said it will impose further tariffs on Chinese goods starting 23 August, in an escalation of trade war between the world’s two biggest economies.
The US has said it will impose further tariffs on Chinese goods starting 23 August, in an escalation of trade war between the world's two biggest economies.
its top trade negotiator has said the 25% import taxes will apply to about $16bn worth in annual imports, covering 279 product lines, including semiconductors and machinery.
The duties are part of a broader round of tariffs on $50bn worth of goods the US announced in March.
A first tranche, on $34bn worth of goods, went into effect in July.
The US has said the tariffs are intended to penalise China for "unfair" trade practices, such as rules that compel companies in certain sectors to take on local partners if they want to do business in the country.
Talks between the two countries on the issues have failed to produce an agreement, prompting China to retaliate with tariffs of its own and US President Donald Trump to escalate his threats.
The US is now considering tariffs on another $200bn in goods, including consumer products that were spared duties in the initial $50bn round. Mr Trump has said he would be willing to hit all of China's imports with duties.

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