United States places tech tariff on China, but smartphones are not affected

Posted June 19, 2018

The US president has long vowed to fulfil his campaign pledge to clamp down on what he considers unfair Chinese trading practices, but his calls for billions in tariffs could complicate his efforts to maintain China's support in his negotiations with North Korea.

President Donald Trump has made a decision to impose significant tariffs on Chinese goods, the latest leg in the ongoing tensions over trade between the two nations, according to published reports.

"The U.S. has ignored China's resolute opposition and solemn representation, and has insisted on adopting behaviours that violate WTO rules", China's commerce ministry said.

China's Commerce Ministry fired back in a statement, "The United States has kept changing its mind and now launched a trade war".

Those could come if China would impose new tariffs on US goods, services, agricultural products, or raise non-tariff barriers, and take actions against American or companies operating in China, according to the statement.

Speaking in an interview with John Catsimatidis on 970 AM-N.Y. on Sunday, Schumer commented that the tariffs should be imposed because China did not treat the US fairly.

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O'Rourke also noted that the policy meant children would spend Father's Day uncertain when they would next see their parents. The site was similarly used in 2016 as a temporary facility to house migrant families and children in canvas tents.

Trade between the two countries "has been very unfair, for a very long time", Trump said.

China has fired back in a spiraling trade dispute with President Donald Trump by raising import duties on a $34 billion list of American goods including soybeans, electric cars and whiskey.

Trump's tariffs arrived after the POTUS complained for more than a year about China's huge trade surplus with the United States.

"Industrial stocks are being hurt by the trade sanctions announced by the US and compounding it is the stronger dollar", said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. China has, for example, always been engaging in several unfair practices related to the acquisition of American intellectual property and technology. Those include 818 products, worth $34 billion a year, remaining from a list of 1,333 the administration released in April.

President Donald Trump is hailing his "very big tariffs" on China.

The ministry says it's also scrapping deals to buy more American farm goods and other exports - steps that were meant to help ease a dispute over China's trade surplus and China's technology policy.

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But those tariffs will have an effect on the domestic economy.

Trump's revised tariff list might exclude some consumer items from an earlier proposal to focus more on goods related to Beijing's "Made in China 2025" program, Eurasia Group said in a report.

The dispute between China and the US has been escalating for months.

"These measures, though, are likely to move the globe further away from an open, fair and rules-based trade system, with adverse effects for both the USA economy and for trading partners", the International Monetary Fund said. The spokesman added that this "undermines the world trade order".

In March, the Trump administration imposed tariffs on imports of steel and aluminum from Russia, China, and India.

So far, the USA has imposed tariffs on steel and aluminum imports.

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