USA tariffs on China: Trump administration adds $16 billion

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The U.S. action that prompted the Chinese retaliation was the latest by President Donald Trump to put pressure on China to negotiate trade concessions, after Washington imposed tariffs on $34 billion United States in goods last month.

The United States published its final list of goods subject to the new tariffs on Tuesday. After Liu visited Washington later that month, the nations released a joint statement pledging to reduce the USA trade deficit with China, among other things.

Negotiations broke off after the Trump administration imposed the tariffs on $34 billion in Chinese imports, a move the Chinese said would void any promises they'd made in negotiations.

US President Donald Trump has boasted that trade wars are "easy to win" and warned he would hit virtually all Chinese imports if Beijing does not back down and take steps to reduce its $335 billion surplus with the US. China responded by promising to hit $60 billion worth of USA goods coming into the country with tariffs.

In July, China's exports rose by 6 percent to 1.39 trillion yuan, a reading that beat market expectations, Huatai Securities said in a research note. For instance, the major complaint is about the theft of USA intellectual property by Chinese firms.

New American tariffs on Chinese goods now affect $50 billion in annual imports, and there's no end in sight. US President Donald Trump accused Beijing of "being vicious" on trade, stressing that Chinese measures were targeting US farmers on objective.

China placed tariffs on US imports including pork and soybeans. China's exports to the U.S. fell by 2.5 percent to $41.5 billion month-on-month, while imports of U.S. goods plunged 1.5 percent to $13.4 billion, according to data from General Administration of Customs on Wednesday, as quoted by the media.

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The latest $16 billion list from the United States will hit semiconductors from China, even though numerous basic chips in these products originate from the United States, Taiwan or South Korea.

June 15: Trump rolls out thefinal list of goods subject to new tariffs.

June 18: Trumpthreatens a 10% tariff on another $200 billion worth of Chinese goods.

The decision follows Washington's announcement Tuesday that it will implement levies on $16 billion of Chinese products starting from the same date. China has responded with retaliatory tariffs of its own.

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

August 3: China announces that the country will impose tariffs of various rates on another $60 billion worth of U.S. goods if Trump moves forward with his latest threat.

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