U.S. tariffs on China: Trump administration adds $16 billion

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The new taxes are in addition to 25 percent tariffs that took effect July 6 on $34 billion in Chinese products.

"Looking ahead, we expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather than U.S. tariffs, the direct impact of which will continue to be mostly offset by the renminbi's (yuan's) recent depreciation", Capital Economics' Senior China Economist Julian Evans-Pritchard wrote in a note.

This is part of the US' response to China's "unfair trade practices" related to the forced transfer of American technology and intellectual property, the US Trade Representative (USTR) said.

"Looking ahead, we expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather than U.S. tariffs, the direct impact of which will continue to be mostly offset by the renminbi's (yuan's) recent depreciation", Capital Economics' Senior China Economist Julian Evans-Pritchard wrote in a note.

The 279 items that will be hit with tariffs at the end of August are mostly industrial goods such as tractors, plastic tubes, and measurement equipment like speedometers.

Chinese state media, reflecting the government's stance, has said China will not be cowed in the face of U.S. threats.

It has not yet given a date for its previously announced retaliatory tariffs on $16 billion in USA goods, which will target commodities such as crude oil, natural gas, coal and some refined oil products.

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A first tranche of tariffs, on $34bn worth of goods, went into effect in July. After Liu visited Washington later that month, the nations released a joint statement pledging to reduce the USA trade deficit with China, among other things. And Mr. Trump has threatened to impose tariffs on virtually everything China sells to the United States.

The trade balance between the two countries, which is at the center of the tariffs tussle, continued to be in favor of China.

His administration confirmed that its trade assault would soon cover more than $50 billion of products from China.

The administration is readying tariffs of up to 25 percent on an additional $200 billion in Chinese products.

China has already retaliated with duties of its own, and has pledged to match the U.S. dollar for dollar with new tariffs.

In March 2018, the USTR had released the findings of its "exhaustive" Section 301 investigation that found China's acts, policies and practices related to technology transfer, intellectual property, and innovation are "unreasonable and discriminatory and burden USA commerce".

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