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WASHINGTON / BEIJING (REUTERS) – President Donald Trump said on Thursday (July 5) the United States may ultimately impose tariffs on more than a half-trillion dollars' worth of Chinese goods as the world's two largest economies hurtled to the start of a trade war.
Trump confirmed that the United States would begin collecting tariffs on US $ 34 billion in Chinese goods at 12:01 am (12:01 pm Singapore time) the amount that the United States imported from China last year.
"You have another 16 (billion US dollars) in two weeks, and then, as you know, we have US $ 200 billion in abeyance and then after the US $ 200 billion , we have US $ 300 billion in abeyance Ok? So we have 50 plus 200 plus almost 300, "Trump told reporters aboard Air Force One.
Trump's comments appeared to increase the stakes for potential retaliation by China. Previously, Trump had been attacked to US $ 400 billion in additional tariffs should China follow through on its plans to retaliate against the original US tariffs on autos, computer disk drives, pump and valve parts and light-emitting diodes.
US Customs and Border Protection said in a statement it would begin to collect the duties of the United States Trade Representative's Office.
Beijing has vowed to immediately respond with an equal amount of tariffs of its own
There was no evidence of any last-minute negotiations between US and Chinese officials, business sources in Washington and Beijing said. Requests for US Treasury, USTR and the US Commerce Department.
China accused the United States on Thursday of "opening fire" on the world with tariffs set to take effect on time that duties on US $ 34 trillion in Chinese goods kick in.
The dispute over the past few years. But US stocks edged higher on Thursday, the United States hopes to ease tensions with Europe Chancellor Chancellor Angela Merkel said it would be back to a European car fare if Washington abandons its threat higher car levies.
China has said it will not "fire the first shot" in a trade with the United States, but its customs agency made on the face of it.
Chinese Commerce Ministry spokesman Gao Feng said that the US tariffs would be affected by a large number of US and international
"US measures are essentially attacking global supply and value chains. Gao said.
CARS, DISK DRIVES AND PUMP PARTS
US Customs and Border Protection of goods and services in the United States and other countries
The list of tariffs and tariffs and footwear. But some products, including thermostats, are lumped into intermediate and capital goods categories.
China has threatened to respond with tariffs on hundreds of countries, such as soybeans, sorghums and cotton, threatening US farmers in states Trump in the 2016 US election, such as Texas and Iowa.
In the aftermath of the threat of a vessel
Asked whether US companies would be targeted with "qualitative measures" in China, Gao said the government would be affected by "qualitative measures" in China in a trade war
Gao said China's foreign trade is expected to continue in the second half of the year, but a full-blown Sino-American trade war would be a blow to Chinese exports
Foreign companies accounted for US $ 20 trillion, or 59 per cent, of the US $ 34 trillion of exports from China which would be subject to new US tariffs, with US firms accounting for a significant portion of that 59 percent , Gao said.
FORD MAINTAINS CHINA PRICING
US carmaker Ford Motor Co., Ltd., United States of America
Ford said it would "continue to monitor the situation as it evolves."
Adding to the voltages, a Chinese court this week barred Micron Technology Inc. from selling its main semiconductor products The world's biggest memory chip market, citing violation of patents held by Taiwan's United Microelectronics Corp.
Beijing has made the semiconductor industry a key priority under its "Made in China 2025" strategy, which has intensified ZTE Corp underscored China's lack of domestic chips.
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