‘Totally unacceptable’: Beijing vows retaliation if United States taxes $200bn of Chinese goods

‘Totally unacceptable’: Beijing vows retaliation if United States taxes $200bn of Chinese goods
The Trump administration announced Tuesday it is preparing a new package of tariffs targeting Chinese exports valued around $200 billion, the latest escalation in the trade war with Beijing.
The threat of additional tariffs on $200 billion worth of goods "would mean that around half of Chinese exports of goods to the US would face significant USA punitive tariff measures", Rajiv Biswas, Asia Pacific Chief Economist at IHS Markit, said in a note.
U.S. officials will hold hearings in late August on the list of targeted products and an administration official said it would take about two months to finalise, at which point Trump would decide whether to go ahead with the levies.
That prompted fears it might go beyond matching Washington's duty increases by disrupting operations for USA companies in China.
'Tonight's announcement appears reckless and is not a targeted approach, ' Senate Finance Chairman Orrin Hatch said.
"China provides massive, market-distorting subsidies and other forms of state support to its domestic industries", Shea said.
A senior administration official told Fox News that China has been "non-responsive" to USA actions and has insisted that Beijing does not see any way America has been hurt by Chinese policies. The U-S president has long criticized China for what he calls unfair trade practices.
"It is totally unacceptable for American side to publish a tariff list in a way that is accelerating and escalating", said a Commerce Ministry statement.
US President Donald Trump ordered his government to prepare tariffs on a further US$200bn of imports from China on Monday.
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.
"Judging from (China's) economic fundamentals and corporate earnings expectations, which are under pressure amid the trade war with the United States, the stock market is yet to reach a bottom", said Yan Kaiwen, an analyst with China Fortune Securities. There is no victor in a trade war.
The $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 USA measures.
He said his office "will proceed with a transparent and comprehensive public notice and comment process prior to the imposition of final tariffs, as we have for previous tariffs". 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.
The officials said they tried to target goods that would reduce the harm to US consumers.
The US administration late on Tuesday released a huge list of new tariffs on $US200 billion worth of goods from China. The U-S Chamber of Commerce says the proposed measure would ultimately hurt American families.
Noticias relacionadas
-
President Trump picks Judge Brett Kavanaugh
Fox News Channel and MSNBC have become the two most popular networks in cable television with opinionated prime-time lineups. She said that with Kavanaugh's credentials, "it's very hard for anyone to tell me that he's not qualified for the job".Amazon Prime Day 2018: Best Things to Buy
Prime members with an Amazon Prime Rewards Visa can also get 10 percent back at Whole Foods Market on up to $400 in purchases. Besides these, there are some other smartphones too that are going to be available during the Amazon prime day sale .John Aldridge Lays Into 'Cheat' Neymar Following World Cup Exit
France have always been a footballing stronghold but as we have seen in this World Cup , reputation precedes determination. He's helped me from when I arrived in England, we have a very special and close relationship. -
Ex-Athletes: Ohio State Doc Groped, Ogled Men for Years
Diana Banister, president of Shirley & Banister Public Affairs, declined to say when reached by email whether the firm was working for the coaches pro bono.Flooding and landslides in Japan leave at least 75 dead, authorities say
Heavy rain was forecast to continue through Sunday in the west and the east, agency official Minako Sakurai told reporters. Evacuation orders were in place for almost 2 million people and landslide warnings were issued in many prefectures.Gato juguetón arruinó entrevista de connotado historiador en televisión — Divertido viral
La historia viral en Facebook comenzó cuando el canal holandés NTR pactó una entrevista con Targalski dentro de su casa. El analista político jamás imaginó que el protagonismo frente a las cámaras se lo robaría el inadecuado Lisio . -
Juez cancela la orden de liberación de Lula da Silva
A las 16:12 horas, por tercera vez en el día, Favreto ordenó la libertad de Lula , pero esta vez en el plazo máximo de una hora.Ant-Man 2 Box Office Slows Down
Other top territories were Russian Federation ($4.9 million), Australia ($4.7 million), and Taiwan ($4.6 million). CinemaScore gave Ant-Man and the Wasp an A- and Rotten Tomatoes now has the movie at an 86 percent Fresh Rating.El Real Madrid hace oficial el fichaje de Álvaro Odriozola
Ya lo convocó para el Mundial de Rusia , donde finalmente no ha disputado ni un solo minuto a las órdenes de Fernando Hierro . En el Real Madrid tendrá la difícil tarea de competir con Dani Carvajal , asentado en el once titular en los últimos años. -
ACLU says less than half of child reunions will meet deadline
Several other children can't be reunited with their parents because the adults have serious criminal records, the government said. Fabian didn't say why they were being released, but US Immigration and Customs Enforcement has little space to hold families.How coach Chanthawong helped trapped Thai boys survive inside the cave
The world has been hooked on the fate of the group of Thai boys trapped in a cave and the heroic attempts to rescue them . The boys, whose names have not been revealed, are being treated at Chiang Rai Prachanukraw Hospital in Muang district.Evo Morales se recupera tras la operación exitosa de un tumor
Además, saludó al pueblo mexicano que en esta jornada elige al próximo presidente de ese país y otros 3.400 cargos públicos.
Historias principales
Trump changes tone in Merkel meeting after earlier slamming Germany
Asked about Trump calling Germany Russia's "captive", Cornyn said: "I would not choose that word but I understand what he's getting at".
English reporter upsets Croatia defender Lovren with Kane reminder
Kane is mindful of the influence he now wields as one of the game's top stars, but the status is one he appears to embrace.
Otra complicación en el operativo para rescatar a los niños de Tailandia
Según un reporte de Bloomberg, por ahora no está claro si los funcionarios tailandeses han aceptado la oferta de Musk . Para fabricar la cápsula han usado el tubo de transferencia de oxígeno líquido de un cohete Falcon 9 .
Hamilton stages dramatic comeback but Vettel wins
Wolff believes the team will regroup in time for its home race at the German Grand Prix. "I deserved the penalty, but I kept fighting".
Zverev fights back to beat Fritz at SW1
Still only 21, Zverev has won three Masters 1000 titles and is firmly established as the brightest young star on the ATP Tour. The Spanish third seed said after falling in fading light: "There's nothing I can do.to say something now makes no sense".
AFA oficializó la renuncia de integrantes del cuerpo técnico — Sampaoli lo sufre
Y si quedaban dudas, hoy se presentó una nueva señal: la cúpula rescindió "de mutuo acuerdo" los contratos de tres ayudantes del entrenador .
Donald Trump still pondering Supreme Court pick as big reveal nears
Ilyse Hogue, president of the pro-abortion organization Naral, told Fox News Sunday that Trump had changed the rules of the game. While that argument won't sway Republicans, their strategy could stiffen Democratic resolve to oppose the nominee.
'Hooyah' - Jubilation as boys confirmed rescued from flooded Thai cave
The search and rescue operation has involved dozens of global experts and rescuers, including a USA military team. Earlier efforts to pump out water from the cave have been set back every time there has been a heavy downpour.
Colombianos: James Rodríguez inició tratamiento para determinar la gravedad de su lesión
Se pueden describir de varias maneras". "Todo el mundo estaba esperanzado pero no lo íbamos a arriesgar", agregó. Por eso se le informó al cuerpo técnico.
El extraño regalo que le envió Donald Trump a Kim Jong-un
También figura alto en la agenda el tema de los restos de los soldados estadounidenses desaparecidos en la guerra de Corea de 1950 a 1953.