US Tariffs On Chinese Goods To Hit $50 Billion From August 23

A Chinese worker looks on as a cargo ship is loaded at a port in Qingdao Shandong Province

The US plans to move forward with further tariffs on Chinese goods starting 23 August, its top trade negotiator has said.

The tranche of 25 per cent tariffs - which covers 279 products including electronic parts, plastics, chemicals, batteries, tractors and railway cars - follows $US34 billion worth of tariffs announced by the U.S. government in July. But it held off on a final $16 billion as a result of concerns raised by USA companies.

China initially responded to the news that the US was considering tariffs on $50 billion in Chinese goods with threats of equal tariffs.

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This is a second installment of tariffs as "part of the US response to China's unfair trade practices related to the forced transfer of American technology and intellectual property", the trade representative's office wrote in the Tuesday release.

TrendMacro CEO Donald Luskin says that tariffs and a trade war are driving China's economy down.

The duties are part of a broader round of tariffs on $50bn worth of goods the USA announced in March.

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USTR said there were 279 new goods to be targeted in the dispute over China's policies promoting theft of American technology.

Trump's aggressive trade actions have drawn sharp criticism from business and from members of his own Republican party, as well as numerous warnings that an continuing to ramp up the trade war will harm the United States and global economies.

Mr. Trump has continued to portray tariffs on foreign imports as good for the country, even as many Republicans and traditionally right-of-center groups preach their ills.

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