White House says Trump's resolve is firm on China trade

Daniel Fowler
August 3, 2018

China announced a list of US$60 billion worth of USA imports it plans to apply tariffs on should the Trump administration follow through with its latest trade threats.

China on Friday threatened to impose tariffs on $60 billion worth of U.S. goods.

"They better not underestimate the president", Larry Kudlow said in an interview on Fox Business Network.

According to China's Ministry of Commerce, the measure will come into force immediately if Washington starts to impose taxes on Chinese imports.

President Trump has threatened to up the ante further by slapping £150bn ($200bn) worth of Chinese goods with levies of up to 25 percent.

China has once again threatened to slap retaliatory tariffs against the United States in response to the Trump administration's trade policies, this time targeting $60 billion in USA imports with tariffs ranging from 5 percent to as high as 25 percent.

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The statement said the date of implementation of the taxes will depend on the "actions of the USA side" and China reserves the right to apply "other countermeasures".

Representatives for the White House and the US Commerce Department did not immediately reply to a request for comment on China's retaliatory move.

The trade war between the two superpowers has escalated in recent months after Donald Trump's administration imposed tariffs on $34bn of Chinese goods in July.

"The US side has repeatedly escalated the situation against the interests of both enterprises and consumers", the Chinese Commerce Ministry said in its statement. China immediately retaliated by imposing levies on the same amount of U.S. goods. USA tariffs on another $16 billion worth of Chinese imports are set to be enacted at a later date.

Among US products targeted were a wide range of agricultural and energy products such as beef and LNG.

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