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US, China Kick Off Fresh Volley of Tariffs in Escalating Trade War Despite Hints of Talks This Month

A new round of tariffs took effect from 0401 GMT, with Beijing's levy of 5% on US crude marking the first time the fuel has been targeted since the world's two largest economies started their trade war more than a year ago.

Reuters

Updated:September 1, 2019, 10:40 AM IST
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US, China Kick Off Fresh Volley of Tariffs in Escalating Trade War Despite Hints of Talks This Month
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Beijing: China and the United States began imposing additional tariffs on each other's goods on Sunday, the latest escalation in a bruising trade war, despite signs that talks would resume some time this month.

A new round of tariffs took effect from 0401 GMT, with Beijing's levy of 5% on US crude marking the first time the fuel has been targeted since the world's two largest economies started their trade war more than a year ago.

The Trump administration will begin collecting 15% tariffs on more than $125 billion in Chinese imports, including smart speakers, Bluetooth headphones and many types of footwear.

In retaliation, China started to impose additional tariffs on some of the US goods on a $75-billion target list. Beijing did not specify the value of the goods that face higher tariffs from Sunday.

The extra tariffs of 5% and 10% were levied on 1,717 items of a total of 5,078 products originating from the United States. Beijing will start collecting additional tariffs on the rest from December 15.

Last month, US President Donald Trump said he was increasing existing and planned tariffs by 5% on about $550-billion worth of Chinese imports after Beijing announced its own retaliatory tariffs on US goods.

Tariffs of 15% on cellphones, laptop computers, toys and clothing are to take effect on December 15.

The US Trade Representative's Office said on Thursday it would collect public comments through September 20 on a planned tariff increase to 30% on a $250-billion list of goods already hit with a 25% tariff.

Trade teams from China and the United States continue to talk and will meet in September, but tariff hikes on Chinese goods set to go in place on Sunday will not be delayed, Trump has said.

For two years, the Trump administration has sought to pressure China to make sweeping changes to its policies on intellectual property protection, forced transfers of technology to Chinese firms, industrial subsidies and market access.

China has consistently denied Washington's accusations that it engages in unfair trade practices, vowing to fight back in kind and criticising US measures as protectionist.

China has pressed the United States to cancel the tariff increase, but said last week that a September round of talks was being discussed between the two.

The trade war further strains Beijing-Washington ties, already overshadowed by US freedom of navigation exercises near Chinese-occupied islands in the disputed South China Sea, and US support for self-ruled and democratic Taiwan, which China claims as its own.

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