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Upping before, Trump threatens new tariffs on Chinese imports



WASHINGTON – President Donald Trump ordered the US Trade Representative on Monday to prepare new tariffs on $ 200 billion in Chinese imports as the two nations move forward. they were approaching a possible commercial war. [19659006] The tariffs, which Trump wants set at a rate of 10 percent, would be the latest round of punitive measures in a growing dispute over the large trade imbalance between the two countries. Trump recently ordered tariffs on $ 50 billion in Chinese assets in retaliation for the theft of intellectual property. The tariffs were quickly matched by China to US exports, a move that provoked the president's anger.

"China apparently has no intention of changing its unfair practices related to the acquisition of US intellectual property and technology," Trump said in a statement. Monday announcing the new action. "Instead of altering those practices, it is now threatening US companies, workers and farmers who have done nothing wrong."

Trump added: "These rates will come into effect if China refuses to change its practices, and also if it insists on moving forward with the new tariffs it recently announced."

Trump said that if China responds to this new round of tariffs, then mobilize to counter "by applying additional tariffs on another $ 200 billion of goods."

It was not immediately clear when the new tariffs could be established, since the trade office has yet to identify Chinese products to be sanctioned or to carry out a legal review. The first round of sanctions announced by both nations will begin on July 6.

The sanctions on intellectual property were the most recent in a series of protectionist measures revealed by Trump in recent months that included tariffs on steel and aluminum imports into the United States. and a harsh rhetoric about trade negotiations from North America to Asia.

The escalation in the dispute with China may also serve as a warning to other trading partners with whom Trump has been fighting, including Canada and the European Union.

The move quickly received praise from Trump's former chief adviser Steve Bannon, who told The Associated Press: "President Trump told China and the world tonight that the United States will not back off in regards to economic aggression. "

the escalation of trade tensions with caution, fearing that they could strangle the economic growth achieved during Trump's surveillance. Gary Cohn, Trump's former chief economic adviser, said last week that a "tariff battle" could result in price inflation and consumer debt, "historical ingredients for an economic slowdown."

Trump's comments came hours after the top US diplomat accused China of getting involved in "predatory 101 economy" and an "unprecedented level of theft" of intellectual property.

Mike Pompeo, Secretary of State, made the remarks at the Detroit Economic Club as global markets reacted to trade tensions between the United States. UU and China. 19659017] He said that China's recent assertions about "openness and globalization" are "a joke." He added that China is a "predatory economic government" that "has long been addressed," including intellectual property theft and Chinese steel and aluminum flooding the US market.

"Everyone knows … China is the main perpetrator," he said. "It's an unprecedented level of theft."

"Just ask yourself: China would have allowed the United States to do what China did to the United States?" He said later. "This is predatory 101 economy."

The Chinese embassy in Washington did not respond to a request for comment.

Pompeo raised the trade issue directly with China last week, when he met in Beijing with President Xi Jinping and others.

"I reminded him that it is not fair competition," said Pompeo.

President Donald Trump had announced a 25 percent tariff on up to $ 50 billion in Chinese imports. China is retaliating by raising import duties on US goods worth $ 34 billion, which include soy, electric cars and whiskey. Trump has also imposed tariffs on steel and aluminum imports from Canada, Mexico and European allies.

Pompeo on Monday described US actions as "economic diplomacy," which, when done well, strengthens national security and international alliances, he added. 19659025] "We use power, economic power and American influence as a tool of economic policy," he said. "We do our best to report unfair economic behavior as well."

In a statement, Trump says he has an "excellent relationship" with Xi, "but the United States will no longer benefit from China's trade." and other countries in the world. "

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Karoub reported from Detroit, AP writer Ken Thomas contributed.

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