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TRADE WAR: US threatens to impose $200bn tariffs on imports from China

TRADE WAR: US threatens to impose $200bn tariffs on imports from China
By Editor

The trade war between the United States of America and the west including the continent of Asia is still brewing.

This is as the government of Donald Trump planning to slap 10 percent tariffs on an extra $200 billion (150.86 billion pounds) worth of Chinese imports.

“For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition,” U.S. Trade Representative Robert Lighthizer said in announcing the proposed tariffs.

“Rather than address our legitimate concerns, China has begun to retaliate against U.S. products … There is no justification for such action,” he said in a statement.

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The move by Trump’s administration to raise the stakes in its trade dispute with China will see it impose huge tarrifs on Chinese imports including numerous consumer items which will most likely send stocks in Asia skidding.

Reacting to the move by the US, China’s commerce ministry said it was “shocked” by the latest U.S. trade action and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. It called the actions “completely unacceptable” in a statement released around midday on Wednesday.

Beijing has however said it would hit back against Washington’s escalating tariff measures, including through “qualitative measures”.

 

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