The Chinese commerce ministry has slammed the U.S. plan to impose tariffs on additional imports worth some $200 billion as totally unacceptable, promising a mirror response to defend its national interests. "There is no justification for such action", he said in a statement. That came four days after Washington added 25 per cent duties on US$34 billion worth of Chinese goods and Beijing responded by increasing taxes on the same amount of American imports.
Analysts have warned that spiralling trade tensions between the two powerhouses could have a damaging impact on the global economy and far-reaching consequences across the planet.
On July 10, U.S. Trade Representative Robert Lighthizer announced in a statement that U.S. President Donald Trump has "ordered USTR to begin the process of imposing tariffs of 10 percent on an additional $200 billion of Chinese imports".
The proposed new US tariffs follow the decision to impose duties in two stages on $50 billion in Chinese goods.
"The trade dispute between China and the U.S.is a big deal, and to the extent that it goes to a full scale war that potentially is recessionary basically for the global economy so we have to be careful here", Tal said.
It vowed to immediately file an additional lawsuit against the United States to the World Trade Organization.
The United States complained China used predatory practices in a push to challenge American technological dominance.
The dispute comes on top of Washington's confrontation with other allies and major trading partners including Canada, Mexico and the European Union, after it imposed steep tariffs on their steel and aluminium. Those nations also have retaliated.
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As with previous rounds of tariffs, the new list takes special aim at "Made in China 2025" products.
China bought US$130 billion of U.S. goods previous year.
Additionally, they cover bags and boxes; building products, luggage and include some categories of plastic machinery and molds apparently not covered in previous tariffs.
Beijing's lopsided trade balance with the United States means it will quickly run out of imports for retaliation.
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 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. "It will also result in retaliatory tariffs, further hurting American workers", a Chamber spokeswoman said.
"The administration's announcement of a potential 10 percent tariff on $200 billion of additional imports from China, including a significant amount of chemicals, is a stunning and unfortunate development for US manufacturers and consumers", ACC said in a July 11 statement. "Unfortunately, China has not changed its behaviour - behaviour that puts the future of the USA economy at risk".
"It's already clear that this well-intentioned policy will actually make the United States less competitive, undermine this administration's vision of energy dominance and the manufacturing renaissance, and nearly certainly destroy many more jobs than it protects".