Published: Thu, August 09, 2018
Business | By Eloise Houston

China Slams 25-Percent Tariff On American Cars And Motorcycles

China Slams 25-Percent Tariff On American Cars And Motorcycles

The latest charge comes after the US said it would implement another round of tariffs on $16 billion worth of Chinese goods. Beijing can't match that dollar-for-dollar because it imports significantly fewer American products than the USA does from China.

Beijing has called on USA officials to be "cool headed", but fired back warning it would impose duties on an additional $60 billion in USA goods, a threat the White House dismissed as "weak".

The decision follows Washington's announcement Tuesday that it will implement levies on $16 billion of Chinese products starting from the same date. They will take effect on August 23. The latest retaliatory tariffs would cover more than $3 billion in Texas exports, accounting for about 20 percent of the total hit, according to data collected by the U.S. Census Bureau.

The Asian economic powerhouse will add the tariffs on USA imports to measure the same tax placed on their exports, CNBC said.

Beijing has retaliated with its own duties on $34bn of United States goods.

"None of this is good for the automakers, who are rapidly becoming more and more globalized and depend on global supply networks to operate profitably", Ed Kim, Vice President of Industry Analysis at AutoPacific, told when these tariffs were initially proposed in April.

The US products in line for tariffs include chemical items and diesel fuel. On Tuesday, the administration said it had chose to go ahead with tariffs on 279 of the 284 items added in June; they're worth about $16 billion a year.

China's exports surged more than expected in July despite USA duties and its closely watched surplus with the United States remained near record highs, as the world's two major economic powers ramp up a bitter dispute that some fear could derail global growth.

"We will continue to make this case and remain hopeful a sensible solution can be achieved that protects the interests of American businesses and consumers".

Gary Hufbauer, a senior fellow and trade expert at the Peterson Institute for International Economics in Washington, said he expected that there would be little to stop further escalation of the U.S.

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