What Is the Endgame for the Trump Trade Wars?

What Is the Endgame for the Trump Trade Wars?

What Is the Endgame for the Trump Trade Wars?

The US has ramped up its trade war with China, outlining a list of $200bn (£150bn) worth of additional products it plans to place tariffs on.

The White House says the tariffs are a response to unfair trade practices by China.

China accused the United States of starting "the largest trade war in economic history", after the first round of tariffs took effect last week.

The United States began imposing tariffs on $34 billion in Chinese goods at 12:01 a.m. EDT (0401 GMT) on Friday.

The Trump administration said it cracked down on China for a range of trade practices involving intellectual property and technology that cost USA companies an estimated $50 billion annually.

China's retaliation to those measures was "without any worldwide legal basis or justification", Lighthizer said Tuesday.

All told, Trump has threatened eventually to slap tariffs on up to $550 billion in Chinese imports - more than China actually exported to the United States previous year - if Beijing won't relent to US pressure and continues to retaliate. China immediately retaliated with duties on the same value of US goods, including soybeans and cars.

David Cohen, a political scientist at the University of Akron, said the pressure on Mr. Trump will mount as the economic pain spreads from affected companies to be more widely felt by consumers.

"China is forced to strike back to safeguard core national interests and the interests of its people", the Commerce Ministry said in a statement to CNN last week. Rather than address our legitimate concerns, China has begun to retaliate against USA products. The US has suggested that it may ultimately impose tariffs on $500 billion worth of Chinese goods, or roughly the entire amount of US imports from China.

President Donald Trump has said he may ultimately impose tariffs on more than $500 billion worth of Chinese goods - roughly the total amount of USA imports from China a year ago.

If he goes ahead it would mean thousands of products from fish to chemicals, metals and tires would face new taxes. "Reliance on more and more taxes as a means to drive change is a high-risk strategy with US importers and exporters at the heart". That's why Trump can slap tariffs on them just because he feels like it.

In addition, the U.S.is considering separate duties on a further US$16 billion in Chinese goods, after a public hearing later this month.

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