The US announced new duties for $ 200 billion of goods from China.
On Tuesday, the US said it was preparing a new list of goods from China for $ 200 billion to impose duties on it in 10%. This «answer to the answer» of China is a new blow to the US over China during the trade war. Previously, the US had already imposed duties on 34 billion dollars of goods from China, China responded with duties on agricultural products from the United States.
The US trade representative Laitizer said that the US is ready to negotiate with China to settle US claims about «unfair trade practices» and theft of intellectual property by China. Earlier, the US-China trade negotiations took place, but they did not yield any results.
China has so far answered only with contemptuous comments in the official media — «The US behaves like a bull in a Chinese store,» «The US undermines globalization and the trade order.»
New US tariffs will not take effect for another 2 months — to give business in the United States the opportunity to discuss the list of goods falling under duties — and the opportunity for US-China talks. Public discussion of the list of goods is scheduled for August 20-23.
The new list of products includes a large number of consumer goods — fish, clothing, footwear, furniture, components for phones and flat displays, etc.
Such a wide list will inevitably affect the mass consumer in the US, causing a rise in prices.
China responded to the first installment of US duties on the «dollar-for-dollar» principle — charging goods worth $ 34 billion in return. Trump said earlier that in the case of Chinese return duties, he would add another 200 billion dollars after the list of 200 billion dollars — thus, Trump’s duties would amount to approximately $ 450 billion of goods from China under tax — almost all goods when imported from China at 505 billion dollars.
Former US Treasury Secretary Lawrence Summers has criticized Trump’s policy — it will lower the purchasing power of Americans, worsen the conditions for US businesses in China, worsen relations with China and increase the risk of military confrontation in the future.
The chairman of the US Senate Finance Committee also spoke out against new tariffs — although he supports the fight against China’s dishonest trade practices and for more fair relations, but considers the new list to be an incorrect move by the US.