Trump Accuses China of Trying to 'Change' US Election

Trump Accuses China of Trying to 'Change' US Election

"But, so far, China has been unwilling to change its practices", including theft and force transfer of technology.

Last month, China unveiled a proposed list of tariffs on $60 billion of USA goods ranging from liquefied natural gas to certain types of aircraft - should Washington activate the tariffs on its $200 billion list.

On Tuesday, China vowed to impose "counter-measures" in response to the new tariffs.

US stock markets opened higher and the Nasdaq index was up 1 over 1 percent by mid-morning. We are especially concerned about retaliatory tariffs on printed circuit assemblies, routers and networking equipment.

This latest round of tariffs marks the third set put into motion so far this year. - From Harley-Davidson motorcycles and USA bourbon to Chinese parts and machinery, the world's two largest economies have exchanged punitive tariffs that slice through a wide swath of products.

This latest round means that around half of all Chinese imports to the U.S. are now subject to the new duties. The tariffs will be imposed on thousands of consumer goods, including electronics, food, tools and housewares.

Mr. Ross said the tariffs would have only marginal impact on domestic consumer prices.

Appearing to counter Trump's previous claim that tariffs imposed by his administration would bring home U.S. businesses and manufacturing, AmCham chairman William Zarit said only 6 per cent of the group's member companies have said the trade war will cause them to consider shifting their operations back to the US.

While economists generally estimate that the overall economic impact of the tariffs will be a fraction of a percentage point, they caution that the effects are hard to predict.

Which items have been targeted?

. No items were added, the officials said.

But despite their lobbying efforts, some of those products will remain on the tariff list.

The list slated for tariffs originally included more than 6,000 items, but USA officials later removed about 300 types of items, including smart watches, bicycle helmets, play pens, high chairs and baby vehicle seats.

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While Trump wants United States companies to shift their manufacturing from China and elsewhere to the U.S., not only would that make the USA companies higher cost and less competitive in worldwide markets but it could take years to build the manufacturing plants or re-engineer supply chains.

Why is the U.S. doing this?

Mr Trump has threatened to target all $500bn (£380bn) of Chinese imports unless Beijing agrees to sweeping changes to its intellectual property practices and what his administration alleges are unfair trade practices.

Chinese imports from the United States grew by nearly 500 percent over the past five years, such that as of 2017 Chinese buyers accounted for almost one in every five dollars in USA export revenue.

U.S. officials hope the risk of economic harm will convince the Chinese government to change its policies.

Beijing is still ready to negotiate an end to the trade tensions, it said.

"They did it with Mexico on auto tariffs and NAFTA (an agreement signed by Canada, Mexico and the US)".

"Today's retaliatory tariffs are not an effective trade policy and may violate US law". The tariffs focused on industrial products, not on things Americans buy at the mall or via Amazon.

Kenneth Jarrett, president of the American Chamber of Commerce in Shanghai, said three quarters of its members will be hit by the tariffs, and they will not bring jobs back to the United States.

The US president had repeatedly criticized Chinese trade practices, calling them unfair.

"Trade wars are not good and they are not easy to win, and this escalation is of course very unfortunate", European Trade Commissioner Cecilia Malmstrom told reporters, echoing one of Trump's catch phrases that trade wars were easy to win.

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