Chinese Exports Accelerate As US Prepares New Tariffs In Heated Row

The administration is preparing tariffs of up to 25 percent on an additional $200 billion in Chinese products.

Beijing has already threatened to retaliate against United States products in kind, warning Washington against "blackmailing and pressuring".

China's exports surged more than expected in July despite fresh USA duties and its closely watched surplus with the United States remained near record highs, as Washington finalised its new tariff list in a bitter dispute that some fear could derail global growth.

They appear far from a resolution. and according to USA local news outlets, the USTR is reviewing the 10 percent tariffs on a further 200-billion US dollars of Chinese imports...and is considering raising the rate to 25 percent. Chinese imports of goods and services into the United States past year amounted to almost $524 billion. Last year, China imported about $130 billion of US goods.

Talks between the two countries on the issues have failed to produce an agreement, prompting China to retaliate with tariffs of its own and US President Donald Trump to escalate his threats.

Over the weekend, Trump said he had the upper hand in the trade war, while Beijing responded through state media by saying it was ready to endure the economic fallout. However, analysts still expect a less favourable trade balance for China in coming months given it's early days in the tariff brawl.

Several industry bodies in the USA representing agribusiness, retail and technology have said the Trump administration's tariffs are hurting them and will cause long-term damage to farmers, manufacturers and consumers.

Although the move was expected, it cements the view that there appears to be no effort underway to defuse the dispute between the world's two largest economies that have continued to exchange threats.

The surplus with the United States was higher than China's overall trade surplus in July, which was $28.05 billion, indicating China ran a net trade deficit with the world excluding the U.S.

In the meantime, it sought public comment on the new items.

Trump responded with a warning that the US would consider tariffs on another $100 billion in Chinese goods.

The new list covers products such as semiconductors, electronics, plastics, and railway equipment.

The office of US Trade Representative Robert Lighthizer said its "exhaustive" investigation showed "China's acts, policies and practices related to technology transfer, intellectual property and innovation are unreasonable and discriminatory and burden US commerce".

Some U.S. industries have expressed disappointment at Tuesday's decision.

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