KXIP vs KKR Live Score

The dispute has continued to escalate, as Trump last week threatened to jack up the tariff rate on the next $200 billion in Chinese imports his administration plans to target to 25 percent, from the planned 10 percent.

The action is the latest by U.S. President Donald Trump to put pressure on China to negotiate trade concessions after imposing tariffs on $34 billion in goods last month.

The US is also considering further tariffs on another $200bn worth of Chinese goods which could come into effect in September.

Nearly 300 Chinese goods face U.S. import taxes of 25 per cent from August 23, including tractors, motorcycles and semiconductors.

China's latest tariffs will be implemented on August 23, in tandem with the U.S.

Trump, who has boasted that trade wars are "easy to win", has threatened to ramp up the pressure and slap tariffs on virtually all of China's exports to the United States if Beijing does not back down and take steps to reduce the $335 billion U.S. trade deficit with that country. Washington applied a 25% tariff on Chinese imports including airplane tires and various industrial parts.

China's exports growth unexpectedly accelerated in July despite fresh US tariffs, while its trade surplus with the United States remained near record highs as Beijing and Washington ramped up a bitter dispute that has rattled financial markets.

The Trump administration has accused China of unfair trade practices, and President Donald Trump has long vowed to bring down the United States' trade deficit in goods with Beijing.




All in all, China's trade surplus with the USA shrank to $28.08 billion in July against $28.97 billion in the previous month.

Although the move was expected, it cements the view that there appears to be no effort underway to defuse the dispute between the world's two largest economies.

Mr Trump has said he would be willing to hit all of China's imports with duties.

Trump has threatened to levy a 25% tariff on an additional $200 billion worth of Chinese imports to the USA - a move that would blow open the disagreement between the countries.

"Certain people go against the tide for their own private ends and go against morality; the barrier of tariffs wantonly rise, and the stick of hegemony is raised all around", the commentary said.

"With each successive round of tariffs, Trump continues to back China into a corner, forcing Beijing to respond in kind", said James Zimmerman, a partner in the Beijing office of worldwide law firm Perkins Coie and a former chairman of the American Chamber of Commerce in China.

April 4: China rolls out a listof more than 100 U.S. goods worth roughly $50 billion that are subject to retaliatory tariffs.

John Neuffer, president and CEO of the Semiconductor Industry Association, said in a statement they were disappointed and puzzled why semiconductors remain on the final tariff list.


COMMENTS