{"id":16134,"date":"2018-09-24T06:23:03","date_gmt":"2018-09-24T06:23:03","guid":{"rendered":"http:\/\/qatar-news.org\/qatarnewsEn\/?p=16134"},"modified":"2018-09-24T06:23:03","modified_gmt":"2018-09-24T06:23:03","slug":"us-tariffs-on-200bn-in-chinese-goods-take-effect","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=16134","title":{"rendered":"US tariffs on $200bn in Chinese goods take effect"},"content":{"rendered":"
\n

A new round of tariffs between China and the United States<\/a>\u00a0came into effect on Monday in a further escalation of the\u00a0ongoing trade row<\/a>\u00a0between the world’s two largest economies.\u00a0<\/p>\n

The US tariffs will affect Chinese products including food seasonings, baseball gloves and parts for industrial machinery, while US-made chemicals, clothes and car parts will be subject to the Chinese levies.<\/span><\/p>\n

On September 17, US President Donald Trump said he would impose 10 percent tariffs on about $200bn worth of Chinese products<\/a>, prompting retaliatory measures from Beijing.<\/p>\n

In a statement the following day<\/a>, the Chinese finance ministry said<\/span>\u00a0it “had no choice but to respond with its own tariffs,” which fall at five or 10 percent and affect some 5,200 US products.\u00a0<\/p>\n

China<\/a>\u00a0also announced it was lodging a new complaint with the World Trade Organization in its tariff battle with the US. \u00a0<\/p>\n

The two sides already traded tariffs on $50bn worth of goods<\/a> from each country earlier this summer.<\/p>\n

On Thursday, in a first, the Trump administration imposed sanctions on a unit of China’s defence ministry<\/a> for buying fighter jets and missiles from Russia.<\/p>\n

Trump has warned tariffs would increase to 25 percent by January 1 unless the US and China reach a trade deal, which was expected to be reached at a meeting in Washington, DC, later this month.<\/p>\n

But, China on Saturday scrapped its trade talks with the Trump administration and is unlikely to hold any meeting before the mid-term elections in the US due in November.<\/span><\/p>\n

Tariff showdown<\/h2>\n

Trump has said the US tariffs are designed to force a change in Chinese trade policies, which he says pose “a grave threat to the long-term health and prosperity of the United States economy”.<\/p>\n

In an interview with Fox News on Sunday, Secretary of State Mike Pompeo said that the US is “going to win” the so-called trade war.<\/p>\n

“We’re going to get an outcome which forces China to behave in a way that if you want to be a power – a global power – transparency, rule of law, you don’t steal intellectual property,” he said.<\/p>\n

Previous US administrations have accused China of stealing technology by forcing firms to reveal secrets as a condition to operate in the Chinese economy.\u00a0<\/p>\n

Greg Swenson, founding partner at mergers and acquisitions firm Brigg Macadam, told Al Jazeera’s Counting the Cost<\/em><\/a> programme that while tariffs might not be the best approach, the US is attempting to resolve an acknowledged issue.<\/p>\n

“Theft of [intellectual property] is clearly a violation of free and open market. I think there are other ways to deal with this, rather than getting into a trade war, but in this case, it seems to be the only way that’s going to get anybody’s attention. I’m not sure it’s being perfectly executed […] but I think something clearly has to be done,” he said. \u00a0\u00a0<\/p>\n

More to come?<\/h2>\n

Trump has warned any retaliatory measures from China would force the US to “immediately pursue phase three”, which is tariffs on $267bn of additional imports.<\/p>\n

China’s finance ministry said it will respond accordingly if the US further increases taxes.\u00a0Beijing had previously warned it would target $60bn in US goods if Trump made good on his threat to impose the new tariffs. The lower Chinese figure highlights Beijing’s inability to match the US dollar-for-dollar in a tariff war.<\/span><\/p>\n

On Sunday, in a bid to promote a business-friendly image, Chinese Premier Li Keqiang said the country would cut import and export costs for foreign firms.<\/span><\/p>\n

“We must strive to improve the business environment and reduce costs for foreign exports by a third, lower customs fees and reduce the time needed to get customs clearance, the government said in a statement.<\/span><\/p>\n

The US imported about $500bn worth of products from China last year, compared with $130bn in US goods imported by the Asian country.<\/span> <\/span><\/p>\n<\/div>\n

\n

\n SOURCE: Al Jazeera and news agencies<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A new round of tariffs between China and the United States\u00a0came into effect on Monday in a further escalation of the\u00a0ongoing trade row\u00a0between the world’s two largest economies.\u00a0 The US tariffs will affect Chinese products including food seasonings, baseball gloves and parts for industrial machinery, while US-made chemicals, clothes and car parts will be subject…<\/p>\n","protected":false},"author":10,"featured_media":16135,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-16134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle_east_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/16134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16134"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/16134\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/media\/16135"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}