TECH

Trump announces 25% tariff on Chinese technology

US President Donald Trump has announced tariffs of over $ 50 billion in Chinese imports on Friday, and Beijing has promised to retaliate in the same way in a move that should ignite a trade war between the world's two largest economies.Trump said in a statement that a 25 percent tariff would be imposed on a list of strategically important imports from China. He also promised more measures if Beijing react."The United States will seek additional tariffs if China adopts retaliatory measures, such as the adoption of new tariffs on US goods, services or agricultural products; raising non-tariff barriers or taking punitive action against American exporters or US companies operating in China, "Trump said in a statement.A few minutes later, China's Ministry of Commerce said it would adopt tariff measures of similar size and intensity to the new US tariffs in response to the US government's announcement."China does not want a trade war, but the Chinese side has no choice but to oppose it strongly because of the short-sighted behavior of the United States that will affect both sides," the Commerce Ministry said on its website.Trump had already said that the US would target another 100 billion dollars in Chinese imports if Beijing retaliated.Washington and Beijing appeared increasingly prone to a trade war after several rounds of talks failed to resolve US complaints about China's industrial policy and market access, as well as a trade deficit of $ 375 billion.
"If the United States takes unilateral, protectionist measures, hurting China's interests, we will react quickly and take the necessary steps to protect our just and legitimate rights," Geng Shuang said in a daily statement to the press.Trump's initial list includes 818 products worth $ 34 billion worth of Chinese goods. The rest of the $ 50 billion will still be decided.Trump has already provoked a trade war with Canada, Mexico and the European Union due to steel and aluminum, and threatened to impose taxes on European cars.Washington also completed a second list of possible tariffs on another $ 100 billion worth of Chinese goods, in the expectation that China would respond to the US tariff list, sources told Reuters.China has already published its own list of tariffs on $ 50 billion worth of US goods, including soybeans, aircraft and automobiles, and said it would counter if Washington continued with other measures.


reuters.com