U.S. Soybean Vessel Was Loaded for China Just Before Duties

U.S. Soybean Vessel Was Loaded for China Just Before Duties

"Trump's escalation of trade hostilities makes it increasingly hard to envision an exit path from an all-out trade war".

"As in the past, the United States is willing to engage in efforts that could lead to a resolution of our concerns about China's unfair trade practices and to China opening its market to U.S. goods and services", he said. Soybeans, which represent a huge slice of American agricultural exports, are being targeted as well as cigarettes and dairy products, among other products.

China immediately retaliated with duties on the same value of USA goods, including soybeans and cars.

The White House has complained that China has used predatory practices in a relentless push to grant Chinese companies an unfair advantage in the industries of the future, including robotics, electric cars and biopharmaceuticals.

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The U.S.is pursuing a new set of tariffs that would hit $200 billion in Chinese goods, according to senior administration officials. China responded with levies of its own, targeting $34 billion in US products such as pork and whiskey. Trump then promised tariffs on about 1,300 Chinese products. These tactics include the outright theft of trade secrets, government subsidies to homegrown tech firms and demands that USA and other foreign companies hand over technology if they want access to China's vast market.

President Donald Trump last month threatened additional tariffs against China if it retaliated.

A CBS News poll from December of 2016, the month before Trump took office, found that 57 percent of Americans said they thought US trade practices with other countries resulted in fewer jobs in the U.S.

The official said the decision was not final and that the list of Chinese goods would not become final until after the public had a chance to comment.

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