China Urges More Trade Talks as Tariffs on US Goods Begin


And in late March, Trump took additional steps toward imposing tariffs on $60 billion in Chinese goods and limiting China's ability to invest in the US technology industry.

In a tit-for-tat response to United States imposing duties on importing aluminium and steel, China's increased tariffs by up to 25 percent on 128 USA products have come into effect on Monday.

If the trade retaliations with China are to continue, the goods that are likely on the radar of the Chinese Foreign Minister for future import tariffs likely include soybeans and aircraft, the two highest valued US exports to China.

That followed a statement Sunday from the Customs Tariffs Commission saying that previously announced tariffs on 128 kinds of imported goods originating in the USA would take effect from Monday.

The United States buys little Chinese steel and aluminum, but analysts said Beijing was certain to retaliate, partly to show its toughness ahead of possible bigger disputes.

In early March, Trump said he planned to apply steep tariffs on steel and aluminum imports.

It said it hoped the U.S. government would withdraw the tariffs "as soon as possible so that the trading of products between China and the United States will return to a normal track".

The agency's "Section 301" investigation which authorises the tariffs accused China of misappropriating USA intellectual property through joint venture requirements, buying of U.S. technology firms with state funding and even theft and unjust technology licensing rules.

Eight other products, including pork and scrap aluminium, will now be subject to additional tariffs of 25 percent, it said, with the measures effective from April 2.

The new Chinese tariffs are a double blow to American farmers, who were already facing the prospect of higher prices for farm machinery and equipment, thanks to Trump's tariffs on steel and aluminum.

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"Our country advocates and supports the multilateral trading system", ran the statement from the finance ministry. A 15 percent tariff was imposed on apples, almonds and some other goods.

The tariff increase "is a proper measure adopted by our country using World Trade Organization rules to protect our interests", a statement from the Chinese Finance Ministry said.

China exported $505 billion in goods to the USA, and US companies exported $135 billion in goods to China in 2017.

According to 2017 trade statistics between the two countries, United States imports worth goods of $505 billion and exports goods valuing just $130 billion having trade gap of $375 billion.

President Donald Trump has repeatedly railed against China's massive trade surplus with the United States and promised during the election campaign to take steps to slash the USA deficit.

But Beijing has so far held fire against major USA imports such as soybeans or Boeing aircraft - items that state-run daily the Global Times suggested should be targeted.

Trump has for years accused the Chinese government of unfair trade practices, which he says put us companies at a disadvantage.

In response to China's move, Washington said Beijing's subsidies and overcapacity were behind the action on steel. "That is now a place where policy is beginning to change".

China is showing the United States that it will make good on its trade threats. That list will be open to a 30-day comment period for businesses.