China Slams 25-Percent Tariff On American Cars And Motorcycles

China Slams 25-Percent Tariff On American Cars And Motorcycles

The Chinese government responded and said Beijing will also slap additional import tariffs of 25% on $16 billion worth of USA goods ranging from oil and steel products to autos and medical equipment.

The measure comes shortly after Washington released the latest list of Chinese goods worth $16 billion that are set to face a 25 percent tariff.

China's exports surged more than expected in July despite USA duties and its closely watched surplus with the United States remained near record highs, as the world's two major economic powers ramp up a bitter dispute that some fear could derail global growth. They will take effect on August 23.

China has vowed to retaliate with equivalent tariffs against any USA action.

China, however, would run out of USA imports to levy, as it bought only $130 billion worth of American goods previous year.

It said a combined total of $6.3bn worth of semiconductors and related products would now be hit by tariffs. Washington has long criticized China's trade surplus with the United States and has demanded Beijing cut it.

China's crude oil imports in July rose for the first time in three months, but were still at their third lowest monthly level so far this year, as independent refiners continue to suffer from the new tax regime eroding their refining margins.




Beijing has called on USA officials to be "cool headed", but has warned it will retaliate against any tariffs with its own measures.

The world's two biggest economies are locked in a trade dispute over Washington's charges that China uses predatory tactics in a drive to supplant US technological supremacy.

"My expectation is that U.S. tariffs on $250 billion of imports from China will be in effect about a month prior to the November U.S. elections". But it held off on a final $16 billion as a result of concerns raised by U.S. companies.

March 1: President Donald Trump announcestariffs on all imports of steel and aluminum, including metals from China.

April 4: China rolls out a listof more than 100 United States goods worth roughly $50 billion that are subject to retaliatory tariffs. The finalized list of goods affected includes 279 items. The move appears to wreck the nascent trade deal.

U.S. industries and farmers have been caught in the crossfire, and the Trump administration announced $12 billion in aid to help farmers hurt by Chinese duties on crops such as soybeans.

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