WASHINGTON (Reuters) - The Trump administration raised the stakes in its trade war with China on Tuesday, saying it would slap 10 percent tariffs on an extra $200 billion worth of Chinese imports.

FILE PHOTO: Shipping containers are seen at a port in Shanghai, China July 10, 2018. REUTERS/Aly Song

U.S. officials released a list of thousands of Chinese imports the administration wants to hit with the tariffs, including hundreds of food products as well as tobacco, chemicals, coal, steel and aluminum.

It also includes consumer goods ranging from car tires, , furniture, wood products, handbags and suitcases, to dog and cat food, baseball gloves, carpets, doors, bicycles, skis, golf bags, toilet paper and beauty products.

“For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition,” U.S. Trade Representative Robert Lighthizer said in announcing the proposed tariffs.

“Rather than address our legitimate concerns, China has begun to retaliate against U.S. products ... There is no justification for such action,” he said in a statement.

Last week, Washington imposed 25 percent tariffs on $34 billion of Chinese imports, and Beijing responded immediately with matching tariffs on the same amount of U.S. exports to China.

Investors fear an escalating trade war between the world’s two biggest economies could hit global growth.

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

The new list published on Tuesday targets many more consumer goods than those covered under the tariffs imposed last week, raising the direct threat to consumers and retail firms.

The tariffs will not be imposed until after a two-month period of public comment on the proposed list, but some U.S. business groups and senior lawmakers were quick to criticize the move.

‘TARIFFS ARE TAXES’

Senate Finance Committee Chairman Orrin Hatch, a senior member of Trump’s Republican Party, said the announcement “appears reckless and is not a targeted approach.”

The U.S. Chamber of Commerce has supported Trump’s domestic tax cuts and efforts to reduce regulation of businesses, but it has been critical of Trump’s aggressive tariff policies.

“Tariffs are taxes, plain and simple. Imposing taxes on another $200 billion worth of products will raise the costs of every day goods for American families, farmers, ranchers, workers, and job creators. It will also result in retaliatory tariffs, further hurting American workers,” a Chamber spokeswoman said.

The Retail Industry Leaders Association, a lobby group representing the largest U.S. retailers, said: “The president has broken his promise to bring ‘maximum pain on China, minimum pain on consumers.’”

“American families are the ones being punished. Consumers, businesses and the American jobs dependent on trade, are left in the crosshairs of an escalating global trade war,” said Hun Quach, the head of international trade policy for the group.

There was no immediate reaction from the Chinese government.

Although it was not a direct reaction to the new move from Trump’s administration, the official English-language newspaper China Daily said in an editorial that Beijing had to stand up to Washington.

“China has no option but to fight fire with fire. It has to resolutely fight back while taking proper measures to help minimize the cost to domestic enterprises and further open up its economy to global investors,” it said.</s>Less than a week into the trade war with China, President Trump is already thinking about levying more tariffs against goods imported from that nation to the U.S.

The White House said it was considering additional tariffs of 10% on $200 billion worth of Chinese exports. This would be the third round of tariffs on Chinese goods imposed by the Trump administration and comes shortly after a tariff of 25% went into effect against $34 billion of Chinese goods. While the tariffs wouldn’t go into effect for at least two months, they would be much more aggressive in the range of goods they’d apply to. Here’s what makes these different.

The round of tariffs that went into effect last Friday mainly applied to raw materials imported by American companies. Only about 1% of the items on the list were consumer goods. This round targets a larger number of consumer goods as varied as fish, luggage, tires, dog leashes, baseball gloves, furniture, clothing, mattresses, and some electronics. The Trump administration has tried to limit the impact of the trade war on consumers and any backlash that it might prompt, but the scale of these tariffs make it next to impossible to protect them.

A senior White House official told CNBC that the reason for the $200 billion figure was that it’s “roughly equal to their exports to us.” Adding $200 billion in goods to the list of existing tariffs would bring the total value of tariffed goods to $450 billion—just shy of the $505 billion in exports that China sends to the U.S. Trump had threatened this level of escalation as early as last week, before the current tariffs even went into effect.

As with previous rounds of tariffs, the new list takes special aim at “Made in China 2025” products. The Chinese government’s industrial strategy to make its goods competitive on the global market, in place since 2015, seems to have been one of the key instigators of Trump’s trade war.

Many Americans—even those the tariffs are ostensibly intended to help—quickly came out against threats of additional tariffs. Senate Finance Committee Chairman Orrin Hatch (R-Utah) said that although he’d supported the previous tariffs, the latest round seemed “reckless.” In addition, the National Association of Manufacturers, which has been silent on previous tariffs, said this round would make U.S. manufacturers less competitive.</s>WASHINGTON (Reuters) - U.S. President Donald Trump is likely to publish this week a list of $200 billion in additional Chinese products to be hit with tariffs, possibly as early as later on Tuesday, an administration official said.

The official said the decision was not final and that the list of Chinese goods would not become final until after the public had a chance to comment.

The move would be the latest in the escalating trade skirmish between the world’s two biggest economies.

Bloomberg first reported on Tuesday that the Trump administration was planning to release the list, citing two people familiar with the matter. Another source who is familiar with the situation confirmed the Bloomberg report to Reuters.

Trump last week said the United States may ultimately impose tariffs on more than $500 billion worth of Chinese goods - roughly the total amount of U.S. imports from China last year.

The United States began imposing tariffs on $34 billion in Chinese goods at 12:01 a.m. EDT (0401 GMT) on Friday.</s>The Trump administration has readied a proposed list of $200 billion worth of imports from China that will be hit with 10 percent tariffs, escalating an already-tense trade war between the world‘s two largest economies.



Senior administration officials said that the U.S. Trade Representative’s office will release the list of goods subject to tariffs later Tuesday night. The move also comes after the U.S. last week imposed a 25 percent tariff on $34 billion worth of Chinese goods, prompting tit-for-tat retaliatory measures. China immediately began adding tariffs on 545 American imports — many of them agricultural products such as soybeans, cotton, rice, sorghum, beef, pork, dairy, nuts and produce.

Last month, President Donald Trump ordered trade officials to draw up a list of $200 billion worth of Chinese goods that would be hit with a 10 percent tariff after Beijing vowed the retaliatory moves.</s>U.S. President Donald Trump is preparing to publish a list of an additional US$200 billion in Chinese products to be hit with tariffs, Bloomberg reported on Tuesday, citing two people familiar with the matter, in the latest step in the trade skirmish between the world's two biggest economies.

REUTERS: U.S. President Donald Trump is preparing to publish a list of an additional US$200 billion in Chinese products to be hit with tariffs, Bloomberg reported on Tuesday, citing two people familiar with the matter, in the latest step in the trade skirmish between the world's two biggest economies.

The tariff list could be released as soon as Tuesday, and likely this week, the report said.

Trump last week said the United States may ultimately impose tariffs on more than US$500 billion worth of Chinese goods - roughly the total amount of U.S. imports from China last year.

The United States began imposing tariffs on US$34 billion in Chinese goods at 12:01 a.m. (0401 GMT) on Friday.</s>The US on Tuesday published a list of $200 billion (€170 billion) worth of Chinese goods that could soon be hit with tariffs.

The move is a major escalation in a brewing trade war between the world's two largest economies.

Read more: Germany, China seek closer alliance over trade spat with US

According to the Office of the US Trade Representative:
• The additional 6,031 product lines would be hit with a 10 percent tariff.
• The list is subject to two months of finalization and input before possible implementation by President Donald Trump.
• The earliest they would come into effect is September.
• The products include various food items, chemicals, minerals, tobacco, electronics and office goods.

The Retail Industry Leaders Association said new tariffs on Chinese imports would punish American families by driving up prices.

US Senate Finance Committee Chairman Orrin Hatch described the move was "reckless."

The previous round of tariffs: The Trump administration last week imposed 25 percent tariffs on $34 million in Chinese goods, prompting Beijing to impose retaliatory tariffs of the same amount on US imports. 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.

Chinese retaliation: China has threatened to retaliate dollar-for-dollar if the Trump administration imposes a new round of tariffs. However, because China exports more to the US than it imports there are limits on the amount of tariffs Beijing can impose on American goods. This has raised concerns that China could retaliate with non-tariff trade measures.

Trade war with the world: US tariffs on aluminum and steel from Canada, the EU and other countries have also triggered retaliatory tariffs on US goods. The prospect of an international trade war has sent jitters through world markets.</s>U.S. stock futures traded lower Tuesday night after the White House announced a list of tariffs on $200 billion in Chinese goods.

As of 7:10 p.m. ET, the implied open for the Dow Jones Industrial Average was more than 180 points lower. The implied open for the S&P 500 and the Nasdaq were also in the red.

The list unveiled late Tuesday was the latest in an ongoing trade dispute between the world's two largest economies.

On Friday, U.S. tariffs on $34 billion worth of Chinese goods kicked in. President Donald Trump had threatened China with the prospect of additional tariffs on at least $500 billion in goods if Beijing retaliated. China went ahead and immediately levied retaliatory tariffs on the U.S.

U.S. Trade Representative Robert Lighthizer called the Trump administration's response an "appropriate" one and said China's retaliatory measures were "without any international legal basis or justification."</s>related media assets (image or videos) available. Click to see the gallery.

2 related media assets (image or videos) available. Click to see the gallery.

The Trump administration raised the stakes in its trade dispute with China on Tuesday, saying it would slap 10 percent tariffs on an extra US$200 billion worth of Chinese imports.

BEIJING/WASHINGTON: China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on US$200 billion (150.70 billion pounds) of Chinese goods.

China's commerce ministry said on Wednesday it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S. actions "completely unacceptable".

The foreign ministry described Washington's threats as "typical bullying" and said China needed to counter-attack to protect its interests.

"This is a fight between unilateralism and multilateralism, protectionism and free trade, might and rules," foreign ministry spokeswoman Hua Chunying told a regular briefing on Wednesday.

Beijing has said it would hit back against Washington's escalating tariff measures, including through "qualitative measures," a threat that U.S. businesses in China fear could mean anything from stepped-up inspections to delays in investment approvals and even consumer boycotts.

China could also limit visits to the United States by Chinese tourists, a business state media said is worth US$115 billion, or shed some of its U.S. Treasury holdings, Iris Pang, Greater China economist at ING in Hong Kong, wrote in a note.

The US$200 billion far exceeds the total value of goods China imports from the United States, which means Beijing may need to think of creative ways to respond to such U.S. measures.

On Tuesday, U.S. officials issued a list of thousands of Chinese imports the Trump administration wants to hit with the new tariffs, including hundreds of food products as well as tobacco, chemicals, coal, steel and aluminium, prompting criticism from some U.S. industry groups.

It also includes consumer goods ranging from car tires, furniture, wood products, handbags and suitcases, to dog and cat food, baseball gloves, carpets, doors, bicycles, skis, golf bags, toilet paper and beauty products.

"For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition," U.S. Trade Representative Robert Lighthizer said in announcing the proposed tariffs.

"Rather than address our legitimate concerns, China has begun to retaliate against U.S. products ... There is no justification for such action," he said in a statement.

Last week, Washington imposed 25 percent tariffs on US$34 billion of Chinese imports, and Beijing responded immediately with matching tariffs on the same amount of U.S. exports to China. Each side is planning tariffs on a further US$16 billion in goods that would bring the totals to US$50 billion.

Investors fear an escalating Sino-U.S. trade war could hit global growth and damage sentiment.

On Wednesday, the MSCI's broadest index of Asia-Pacific shares outside Japan was down about 1 percent, while the main indexes in Hong Kong and Shanghai recovered somewhat after falling more than 2 percent.

S&P 500 and Dow futures dropped around 1 percent, pointing to a weak opening on Wall Street later on Wednesday.

The onshore yuan tracked its offshore counterpart lower with traders closely watching the key 6.7 per dollar level as pressure mounted on the currency.

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

The new list published on Tuesday targets many more consumer goods than those covered under the tariffs imposed last week, raising the direct threat to consumers and retail firms and increasing the stakes for lawmakers in Trump's Republican party facing elections in November.

The list is subject to a two-month public comment period before taking effect.

Some U.S. business groups and lawmakers from Trump's own Republican Party were critical of the escalating tariffs.

Senate Finance Committee Chairman Orrin Hatch said the announcement "appears reckless and is not a targeted approach."

The U.S. Chamber of Commerce has supported Trump's domestic tax cuts and efforts to reduce regulation of businesses, but does not back Trump's aggressive tariff policies.

"Tariffs are taxes, plain and simple. Imposing taxes on another US$200 billion worth of products will raise the costs of every day goods for American families, farmers, ranchers, workers, and job creators. It will also result in retaliatory tariffs, further hurting American workers," a Chamber spokeswoman said.

Louis Kuijs, Hong Kong-based Head of Asia Economics at Oxford Economics, said while he expects China to strongly condemn the U.S. moves, its policy response is likely to be limited for now.

"In part because they have only limited ammunition and in part because it's still early in the process on the U.S. side," Kuijs said.

Trump has been following through on pledges he made during his presidential campaign to get tough on China, which he accuses of unfair trade practices including theft of intellectual property and forced technology transfer that have led to a US$375 billion U.S. trade deficit with China.

China's exports have mushroomed since it joined the World Trade Organisation in 2001, making it the world's second-largest economy and prompting widening criticism in recent years from trading partners that it has unfairly used global trade rules to its advantage.

As its dispute with Washington deepened, Beijing has been calling on other countries to support global free trade and has talked up efforts to ease investment rules. During a visit to Germany this week by Chinese Premier Li Keqiang, the countries signed business deals worth more than US$23 billion.

"China stands in line with the international community on the correct side of history to together protect the rules of the multilateral trade order," foreign ministry spokeswoman Hua said on Wednesday.</s>The United States has decided to impose tariffs on $200 billion worth of imports from China after efforts to negotiate a solution to the trade dispute failed to reach an agreement, senior administration officials said on Tuesday.

U.S. Trade Representative Robert Lighthizer said the United States would impose tariffs of 10 percent on the additional Chinese imports.

The move would be the latest in the escalating trade skirmish between the world's two biggest economies.

Trump said last week the United States may ultimately impose tariffs on more than $500 billion worth of Chinese goods - roughly the total amount of U.S. imports from China last year.

Administration officials said a two-month process would allow the public to comment on the proposed tariffs before the list is finalized.</s>U.S. Trade Representative Robert Lighthizer said the United States would impose tariffs of 10 percent on the additional Chinese imports.

The move would be the latest in the escalating trade skirmish between the world's two biggest economies.

Trump said last week the United States may ultimately impose tariffs on more than $500 billion worth of Chinese goods - roughly the total amount of U.S. imports from China last year.

Administration officials said a two-month process would allow the public to comment on the proposed tariffs before the list is finalized.
The Office of the United States Trade Representative releases a list of approximately $200 billion worth of Chinese goods to be affected in its next round of tariffs.