Trump threatens higher tariffs on Chinese imports

If Trump imposes the new duties on China as well as a threatened third set of tariffs on another $200 billion of imports, effectively all of the Asian nation's us exports would be impacted.

US Trade Representative Robert Lighthizer said this week that Washington was considering raising existing tariffs on US$200 billion worth of Chinese products to 25 per cent from 10 per cent, but "remains ready to engage with China" to resolve their dispute. China retaliated with tariffs of its own, and the USA countered with tariffs on $34 billion in additional Chinese imports with tariffs on an additional $16 billion scheduled to take effect as soon as Wednesday.

The Trump administration has threatened to increase the rate of its tariffs against China from 10 percent to 25 percent.

While the tariffs would not be imposed until after a period of public comment ends on September 5, a senior administration official said that Trump "remains open to conversations", and that the administration is "in contact with our Chinese counterparts". Geng said at a news conference, "we advise the United States to be level-headed and avoid simply acting on impulse".

China's top diplomat on Thursday encouraged the Trump administration to "calm down" amid escalating tariff threats, saying increased rhetoric will not lead to results.

The next wave of USA tariffs is set to kick in as soon as Wednesday, with the possible imposition of duties on another $16 billion of Chinese imports.

Investors fear an escalating trade war between Washington and Beijing could hit global economic growth, and prominent United States business groups, while tired of what they see as China's mercantilist trade practices, have condemned Mr Trump's aggressive tariffs.

"US pressure and blackmail won't have an effect".

Wang Yi said at a forum in Singapore that a USA campaign to ratchet up pressure on Beijing will not "have any effect", Reuters reported.

Erin Ennis, senior vice president of the U.S. The outlines of the deal are still sketchy, but they call for the Europeans to buy more American petroleum, soybeans and manufactured goods and for Trump to reduce his vehicle and steel tariffs.

The administration had previously imposed 25 percent tariffs on $34 billion worth of Chinese goods on July 6 over similar concerns that Beijing was stealing or pressuring companies to hand over technology.

Firms based in Berlin were also hit by trade tariffs, due to their worldwide network of suppliers and overseas customer relationships, according to the DIHK survey. After Liu visited Washington later that month, the nations released a joint statement pledging to reduce the US trade deficit with China, among other things.

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