Published: Mon, August 19, 2019
Electronics | By Kelly Massey

China says it will retaliate against new USA tariffs

China says it will retaliate against new USA tariffs

"Otherwise, what's the objective?" he said in an interview on New Hampshire radio station WGIR.

"According to President Trump, the delay is in order not to affect consumers ahead of Christmas shopping while we think that USA will also want to contain the fallout from the trade tensions as it heads into election next year".

China's Ministry of Commerce said that Vice Premier Liu He spoke with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin on the phone yesterday.

Asian markets were mixed in morning trade on Friday as Beijing said the looming US tariffs on Chinese goods are violations of accords reached earlier this year.

While some of the duties will take effect September 1 as planned, certain products are being removed from the list "based on health, safety, national security and other factors", the U.S. Trade Representative's (USTR) office said in a statement. "There's not many more to play and we're hoping that that is resolved quickly".

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China's threat to impose countermeasures further sent global stocks sprawling on Thursday with oil also deepening its slide over recession fears, although USA stocks opened higher on Thursday amid strong retail sales data. "The administration should permanently remove these harmful tariffs and find another way to hold China accountable for its unfair trading practices". Tariffs will still apply to those products from mid-December. A few other products were removed altogether, including certain types of fish and baby seats. It did not immediately identify these items. Recently, the United States on Monday designated China as a currency manipulator. China hopes the US will meet "half-way" to reach a "mutually acceptable solutions through dialogue on the basis of equality and mutual respect".

"President Trump's motivation for delaying some of the tariffs is largely driven by domestic consideration". They very much want to make a deal. "Maybe this will be different!"

Trump dismissed investors' worries Thursday. Goldman Sachs said on Sunday fears of the U.S.

"The future actions on tariffs and related matters depends on the progress of the China trade deal", White House National Economic Council director Larry Kudlow said from the White House on August 2.

China on Thursday vowed to retaliate against any new tariffs in the trade war with the United States - even as it said it would be willing to meet the White House "halfway" on trade issues.

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