China- US trade wars

‘It’s only polite to reciprocate’: Beijing slams new US tariffs on $50bn worth of Chinese goods

RT,

3 March, 2018

After the US unveiled a preliminary list of imports from China that will be hit by the tariff hikes ordered by President Trump last month, Beijing has vowed to take retaliatory measures of “equal scale and strength.”

“The Chinese side strongly condemns and firmly opposes the unfounded Section 301 investigation and the proposed list of products and tariff increases based on the investigation,” a Chinese embassy statement said, according to Reuters.

“As the Chinese saying goes, it is only polite to reciprocate. The Chinese side will resort to the [World Trade Organization] dispute settlement mechanism and take corresponding measures of equal scale and strength against US products in accordance with Chinese law.”

Earlier on Tuesday the US Trade Representative’s office unveiled a list of products which Washington wants to slap with 25% levies, in order to force Beijing to stop what Trump believes to be “unfair” trade practices. The list includes some 1,300 products, ranging from chemicals and diodes to motorcycles and dental devices.

China vows retaliation of ‘same proportion’ in response to any new US tariffs

While the Chinese products targeted are mainly non-consumer in nature, the move could still affect the supply chain of many US manufacturers. None of the tariffs will go into effect immediately, but will be introduced after May 22, unless no objections are raised by US companies.

In order to limit potential damage to the American public, the USTR has used a special algorithm that excludes ‘sensitive’ items, like consumer electronics and clothing, but instead focuses on those products that would inflict maximum harm to Chinese exporters, Trade Representative Robert Lighthizer said. The “final determination” on the list is expected within two months, following a public debate.