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TARIFF DISPUTE: Trump plans fresh $200bn imposition on Chinese imports



TARIFF DISPUTE: Trump plans fresh $200bn imposition on Chinese imports

US President Donald Trump has threatened fresh imposition of $200 billion worth of tarrifs on Chinese imports as a possible trade war looms even larger.

Trump says he wants additional tariffs set at 10 percent rate if China refuses to change ‘unfair practices’ as the two nations moved closer to a wider tariff dispute.

“China apparently has no intention of changing its unfair practices related to the acquisition of American intellectual property and technology,” Trump said in a statement Monday announcing the new action.

“Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong.”

Read also: Court in Iraq orders arrest of 4 suspects over burning of ballot boxes

Trump added: “These tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced.”

Trump had earlier announced a 25 percent tariff on $50bn worth of Chinese goods over “unfair trade practices” but China replied in kind by imposing huge tariffs worth $50 billion on the US saying they would impose tariffs of the same ‘scale and strength’.

The EU had also retaliated in kind against the US over its imposition of tariffs last week by unanimously endorsing a plan to impose high import duties on American products.

There is now a looming threat of a global trade war after the move by the EU which is in direct response to Washington’s tariffs on steel and aluminium imports from Canada, EU and Mexico.


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