Published: Wed, July 11, 2018
Finance | By Claude Patterson

Donald Trump's China Tariffs Don't Apply to Ivanka

Donald Trump's China Tariffs Don't Apply to Ivanka

But China only bought about $135 billion in US goods previous year, meaning it will run out of American products to tax before it matches Trump's latest move.

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 US imports from China previous year. Soybeans, which represent a huge slice of American agricultural exports, are being targeted as well as cigarettes and dairy products, among other products.

The White House has complained that China has used predatory practices in a relentless push to grant Chinese companies an unfair advantage in the industries of the future, including robotics, electric cars and biopharmaceuticals. Rather than address our legitimate concerns, China has begun to retaliate against USA products.

Chinese officials are expected to retaliate in other ways, hitting USA firms in China with unplanned inspections, delays in approving financial transactions and other administrative headaches.

U.S. tariffs are the first stage in levies threatened by the Trump administration on a total of $450 billion worth of Chinese goods. Trump then promised tariffs on about 1,300 Chinese products.

On Friday, the US slapped 25 percent taxes on $34 billion in Chinese imports, majority are industrial goods that the Trump administration says receive subsidies or other unfair support from Beijing. China has vowed to retaliate dollar-for-dollar to any further USA tariffs. But Trump hasn't backed down, arguing that China's unfair trading practices are hurting American workers.

Trump last month asked the US Trade Representative's office to identify $US200 billion of Chinese goods that could be hit with 10 per cent tariffs.

It said Corning was among the companies that would be affected by the higher duties. "We can not turn a blind eye to China's mercantilist trade practices, but this action falls short of a strategy that will give the administration negotiating leverage with China while maintaining the long-term health and prosperity of the American economy".

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