USA to apply more pressure on China with new tariff hike

The Trump administration had initially announced a 10 percent tariff

President Trump has instructed U.S. trade representatives to increase the tariffs it levies on around $200 billion of Chinese exports, from 10% to 25%, citing China's failure to address USA concerns over "unfair trading practices" that include "forced technology transfer and intellectual property theft".

One person familiar with the internal deliberations said the U.S.is trying to secure certain concessions and if China agrees, it is possible the US would back off additional tariffs.

Investors fear an escalating trade war between Washington and Beijing could hit global growth, and prominent USA business groups have condemned Trump's aggressive tariffs.

Foreign Ministry spokesman Geng Shuang told a daily news briefing in Beijing that US pressure on trade won't work, and that Beijing has always upheld using dialogue to resolve trade issues.

But what exactly prompted Trump to push for the sharp reset in Chinese tariffs?

The Trump administration has already imposed tariffs on $34 billion worth of Chinese goods and duties on an additional $16 billion worth are expected soon.

Trump has threatened to escalate the conflict even more by taxing virtually all of the $500 billion worth of goods China ships annually to the United States.

China has announced retaliatory tariffs on $US60 billion ($81b) worth of USA goods ranging from liquefied natural gas (LNG) to some aircraft and warned of further measures, signalling it will not back down in a protracted trade war with Washington.

President Donald Trump requested the US Trade Representative explore the option to hit $200 billion worth of Chinese imports to the US with a 25% tariff.

More news: Trump claims shoppers need to show ID to buy groceries

And last week President Donald Trump announced a cease-fire in a potentially destructive dispute with the European Union over trade in cars, trucks and auto parts.

In addition to the tariffs now in place, the Trump administration has proposed an additional 10 percent tariff on an additional $200 billion worth of imports from China. "The U.S. unilaterally exerting pressure on China will get the opposite of what it wants", he said. "Regrettably, instead of changing its harmful behavior, China has illegally retaliated against USA workers, farmers, ranchers and businesses", Lighthizer said.

The public comment period on the U.S. tariffs aimed at $200 billion ends August 30 after public hearings August 20-23, according to the U.S. Trade Representative's office. At a campaign rally in Florida Tuesday night, Mr. Trump said China's response targeting USA farmers has been "not nice".

China's Ministry of Foreign Affairs said it will fight back should the USA further increase tariffs.

There have been no formal talks between Washington and Beijing for weeks over Trump's demands that China make fundamental changes to its policies on intellectual property protection, technology transfers and subsidies for high technology industries.

Mr Trump's threats of higher tariffs weighed on China's financial markets.

The United States has imposed tariffs on other nations too, including Canada and Mexico, Washington's partners in the North American Free Trade Agreement.

Asked about communication between the two countries on the dispute, Geng said China had "always upheld using dialogue and consultations to handle trade frictions", but that dialogue must be based on mutual respect and equality.

Related News:

31 July 2018

Polar bear shot dead after attacking tour guide near North Pole
In 2008 polar bears were listed for protection under the Endangered Species Act because of forecasted impacts of climate change. The guard was injured during a trip to an island in Svalbard, which is located between mainland Norway and the North Pole.

28 July 2018

FACEBOOK FAIL: Zuckerberg Loses $16 BILLION in FIVE MINUTES as Shares PLUNGE
Shares in Alphabet were unchanged while those in Apple and Netflix slipped just a third of a percent. The news sent Facebook's stock free-falling almost 25 percent in after-hours trading.

28 July 2018

White House to showcase USA products as trade battles loom
I think it's going to help defuse some of the concern out there, not only in farm country but in our economy generally", Portman said.
White House: Trump receives new letter from Kim Jong Un
The White House did not provide details on the specific content of the letter from Kim, received Wednesday, or of Trump's reply. Last week, US Secretary of State Mike Pompeo told senators that Pyongyang was continuing to produce fuel for nuclear bombs.

31 July 2018

Imran Khan Starts Preparations For Formation Of Govt
A leader of the Pakistan Tehreek-e-Insaf party termed Modi's telephone call congratulating Khan on his victory a "welcome sign". There are 13 independents who have won the NA seats.

28 July 2018

Demi Lovato Found In Her Bed Unconscious By Assistant
However, at around 11am in the morning, her assistant became concerned that she wasn't up and out of bed, so went to check on her. However, back in June she released a single called " Sober ", where she disclosed her relapse.
02 August 2018

Giuliani says he's not sure collusion is a crime despite Mueller investigation
The rift in talks between Trump's legal team and the Mueller team comes amid recent efforts by Trump to personally discredit Mueller .

02 August 2018

Gov. Brown: Fires are Now Part of the ‘Ordinary Experience’ for Californians
Unlike the Carr Fire, authorities don't know what started the Ferguson Fire , which has now engulfed almost 63,000 acres. The Mendocino Complex Fire is a combined 80,408 acres as of Tuesday night, and is made up of the Ranch and River fires.

North Korea Is Continuing to Produce ICBMs — US Intelligence
This commercial satellite image shows North Korea's Sanumdong missile assembly facility south of Pyongyang on July 7. The photo includes a vehicle the Post says is similar to those used by North Korea to transport missiles.
03 August 2018

Sales tax on school, emergency supplies to take holiday August 3-5
Gordon Gough, president of the state Council of Retail Merchants, says consumers will get the "lion's share of benefits". The weekend begins on Friday and goes through Sunday.

03 August 2018

Higuain undergoes AC Milan medical
Chelsea defender David Luiz says he wants to stay with the club, after a summer of intense speculation around his future. He's trying to help us every single day to learn quickly his philosophy. "We have to be happy to do our best".

26 July 2018

Champion Francesco Molinari hoping Open success will…
Per Nielsen, NBC's deliveries marked a 32 percent improvement compared to last year's broadcast (4.91 million viewers). Molinari's streak of 37 holes without a bogey helped lead him to the two-stroke win.