U.S. to slap tariffs on extra $200 billion of Chinese imports

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U.S. to slap tariffs on extra $200 billion of Chinese imports

President Donald Trump is preparing to release a list of an additional $200 billion in Chinese products to be hit with tariffs, according to two people familiar with the matter.

Lighthizer's office will hear public comments on the plan and will reach a decision after August 31, according to a senior administration official who briefed reporters on condition of anonymity.

China, meanwhile has vowed to match any future tariffs dollar-for-dollar, signaling an escalating trade war between the two nations.

President Donald Trump escalated his trade war with China Tuesday, identifying an additional $200 billion in Chinese products that he intends to hit with import tariffs.

This most recent maneuver follows a threat President Trump made last month, and comes days after the US and China imposed tit-for-tat tariffs on more than $30 billion in goods.

China's retaliation to those measures was "without any worldwide legal basis or justification", Lighthizer said Tuesday.

The administration said the new levies are a response to China's decision to retaliate against the first round of United States tariffs.

The Office of the U.S. Trade Representative published the list of more than 6,031 product lines Tuesday and proposed 10 per cent tariffs on them.

US Senate Finance Committe chairman Orrin Hatch labelled the move as "reckless", while the US retail industry leaders assocation immediately condemned the move, saying the "the President has broken his promise".

Chinese authorities implemented tit-for-tat tariffs on key U.S. exports into China, including some major agricultural products. USA officials insist China's retaliatory tariffs are unjustified. "This new round of proposed tariffs takes the fight onto yet another level from which it is going to be hard for either side to make a graceful retreat", said Eswar Prasad, former head of the International Monteary Fund's China division.

Chinese tariffs have already taken a toll on US exports such as soybeans, which raises questions about the possible political repercussions President Trump could face from farmers who supported him in the 2016 election.

The International Monetary Fund has warned that a full-blown trade war could undermine the broadest global upswing in years.

"The Trump administration is gambling that by wielding such a big club, it will force China to back down", said Edward Alden, a senior fellow at the Council on Foreign Relations.

Administration officials said they hoped the measures would convince the Chinese government to increase market access for USA companies and address allegations of the theft of intellectual property.

The United States complains that China uses predatory practices in a push to challenge American technological dominance.

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