China retaliated against proposed U.S. tariffs on Chinese goods by targeting high - value American exports, from airplanes to soybeans, in a tactic Beijing officials say is meant to secure a truce.
WASHINGTON / BEIJING, April 4 - President Donald Trump's administration said on Wednesday talks with Beijing could resolve an escalating U.S. - China trade fight after
China retaliated against U.S. proposals to slap tariffs on $ 50 billion in Chinese goods by targeting key American imports with similar duties.
It also warned that if
China retaliates against US companies in response to tariffs, American companies would lose business that would go instead to companies from other countries.
FTSE 100 ends little changed as
China retaliates against U.S. tariffs Wm. Morrison shares jump; WPP's stock down on Sorrell probeU.K.
Not exact matches
China's steel and metals associations urged the government to
retaliate against the United States, citing imports ranging from stainless steel to coal, agricultural products and electronics.
China has denied that its laws require technology transfers and has threatened to
retaliate against any US tariffs with trade sanctions of its own, with potential targets such as US soybeans, aircraft, or heavy equipment.
The key question is, does the U.S.
retaliate against that retaliation,» said Derek Scissors, a
China trade expert at the American Enterprise Institute, a pro-business think tank.
«If
China and Mexico
retaliate against the United States, that would be similar to Smoot - Hawley,» says Irwin.
China has denied that its laws require technology transfers and has threatened to
retaliate against any U.S. tariffs with trade sanctions of its own, with potential targets such as U.S. soybeans, aircraft or heavy equipment.
Lighthizer told fellow lawmakers on Thursday that
China will likely
retaliate against the new measures by targeting U.S. agricultural goods.
China's threats to
retaliate against US tariffs fueled fears of a trade war, unnerving manufacturers and even Tyson Foods.
China imposed tariffs on a range of U.S. goods, following through on a promise to
retaliate against the Trump administration's penalties on imports of Chinese steel and aluminum.
China wasted little time in threatening to
retaliate against the United States, underlining the risk of a tit - for - tat escalation that hurts global trade.
However, if
China pushes too hard on this front the U.S. could
retaliate with similar measures
against Chinese firms in the U.S. and / or encourage U.S. firms to migrate to lower - cost countries at a faster pace than is already occurring.
On April 3 the US administration listed $ 50 billion worth of Chinese imports to be subject to 25 - percent tariffs, and on April 5 upped the bid with an additional $ 100 billion in response to
China's plan to
retaliate against the initial round.
The report, the first by U.S. Trade Representative Robert Lighthizer, comes as the president also is considering
retaliating against China for forcing foreign companies to surrender their intellectual property and is seeking to renegotiate a pair of major trade deals.
On Wednesday,
China threatened to
retaliate against many of the American products and industries that President Trump has vowed to protect.
They said Beijing could
retaliate against U.S. companies that do business in
China if Trump takes his tougher line too far.
«The Chinese are deeply concerned and we hear now from reliable sources in Beijing who suggest the Chinese government, the Communist Party, are developing lists of U.S. interests
against which they could
retaliate, commercial interests, and obviously one merely has to look at top U.S. exports to
China to get a quick sense of whose heads may be on the chopping block,» said one
China trade policy expert who interacts closely with U.S. business.
Those goods include pork and steel pipes as
China explores its options to
retaliate against proposed U.S. tax increases, though reports say
China is open to negotiations to find an agreement more favorable for both sides.
If the Trump administration decides to impose more tariffs next month, it could be the first blow in a one - two punch to
China on trade, making it even more likely that Beijing might
retaliate against American exports.
there is a serious risk that
China will be tempted to
retaliate against U.S. tariffs imposed as result of U.S. claims of intellectual property infringements by
China.
NEW YORK (Reuters)- It took
China just 11 hours to
retaliate against the United States for proposing tariffs on some 1,300 Chinese products, but Chinese officials are holding back on taking aim at...