In a tit-for-tat, Trump threatens to impose new tariffs on China

US President Donald Trump, on Monday, threatened to impose a 10 per cent tariff on other Chinese goods worth $200 billion.

US President Donald Trump, on Monday, threatened to impose a 10 per cent tariff on other Chinese goods worth $200 billion.
 
White House, last Friday, approved tariffs on Chinese goods worth about $50 billion, which triggered China to impose tariffs to American products.
 
The Chinese State Council's Commission on Tariffs and Customs, on Friday, said in an online statement that a 25 per cent tariff will be imposed effective July 6 on $34 billion of US goods. 
 
The US products which will come under tariff are soybeans, electric vehicles, a range of hybrid electric vehicles and a variety of seafood and pork, said Chinese government.
 
The US, on Friday, said it will initially impose an additional 25 per cent tariff on 818 Chinese imports worth about $34 billion to be effective from July 6. 
 
As regards duties on $16 billion worth of Chinese goods, American government said it will be imposed after public review. If approved, that would bring the total to $50 billion worth of Chinese goods.
 
To this, the Trump administration has issued a quick warning on Monday to impose tariffs on another $200 billion Chinese products.
 
"China apparently has no intention of changing its unfair practices related to the acquisition of American intellectual property and technology," Trump was quoted as saying on Monday. 
 
"Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong."
 
China reacted strongly to Trump's latest threat, calling it an "act of extreme pressure and blackmail that deviates from the consensus reached by both parties after many negotiations, and is a disappointment to the international community."
 
It further said, "If the US becomes irrational and issues this list, China will have no choice but to adopt strong countermeasures of the same amount and quality."
 
In no mood to budge, Trump warned if China acts in retaliation, then US president will move further "by pursuing additional tariffs on another $200 billion of goods".
 
Source: Media reports

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