US levies 10% taxes on Chinese products worth $200 bn

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SME Times News Bureau | 11 Jul, 2018
President Donald Trump has ordered the start of imposing additional 10 per cent taxes on Chinese imports worth $200 billion, according to a statement by the US Trade Representative (USTR).

The new tariffs were adopted on Tuesday by the Trump administration in retaliation for Beijing's response to the first set of taxes imposed by Washington, Efe news reported.

On July 6, the US levied 25-per cent tariffs worth $34 billion as part of a first tax package worth $50 billion, to which China responded with similar measures.

"As a result of China's retaliation and failure to change its practices, the President has ordered USTR to begin the process of imposing tariffs of 10 per cent on an additional $200 billion of Chinese imports," the agency said in a statement.

Along with the statement, the USTR published a 200-page list of products affected by the measure such as fruits and vegetables, cereals, products of animal origin, wood, boats and construction materials.

The list also includes chemical products, fuels, tobacco and alcohol, textiles, answering machines and photographic and video material, among others.

"For more than a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition," the USTR said in its statement.

"We have been very clear and detailed regarding the specific changes China should undertake. Unfortunately, China has not changed its behaviour that puts the future of the US economy at risk," the text added.

The agency also announced that it will proceed with a public notice and comment process before the new tariffs officially take effect.

Trump had previously warned China of the imposition of the latest tariffs and of a possible third tax package worth $300 billion if the Asian giant decides to respond.