gas grills Trump slaps tariffs on $200 billion in Chinese goods, spares some consumer tech
WASHINGTON (Reuters )-U.S.President Donald Trump escalated a trade war with China on Monday, imposing a 10% tariff on Chinese imports worth about $200 billion, but Apple and Fitbit, as well as other consumer products such as bicycle helmets and baby car seats, do not have smart watches.Trump warned in a statement announcing a new round of tariffs that China would retaliate against the United StatesS."We will immediately implement the third phase, which is to impose tariffs on additional imports of approximately $267 billion."The IPhone is not one of the" broad "products Apple has told regulators that it will be hit by $200 billion in tariffs in a report.Comments to trade officials.But if the Trump administration imposes a new round of tariffs on $267 billion in goods, it will devour all the remaining US goods.S.Imports from China, the iPhone and its competitors are likely to be spared.Long-term tariffs-The list is expected to begin one after another.But by the end of 2018 this rate will increase to 25%.S.A senior government official said the company had been adjusting its supply chain to alternative countries for some time.So far, the United States has imposed tariffs on $50 billion worth of Chinese products, forcing China to impose tariffs on its trade, technology transfer and highSubsidy policy for science and technology industry.Beijing retaliated.Trump's tariff escalation on China came after negotiations between the world's two largest economies to resolve trade differences had yielded no results.U.S.S. Treasury Secretary Steven Mnuchin invited senior Chinese officials to a new round of talks last week, but no talks have been scheduled so far."We are very clear about what changes need to be made and we give China every opportunity to treat us more fairly," Trump said in a statement ."."But so far, China has been reluctant to change its approach.Fang Xinghai, vice chairman of China's securities regulator, said on Tuesday at a forum in the Chinese port city of Tianjin that he hoped the two sides would sit down and talk, but added that the latest U.S.The move "poisoned" the negotiating atmosphere.Chinese Vice Premier Liu He will hold a meeting in Beijing on Tuesday morning to discuss the government's response to the United States.S.Bloomberg News reported the decision, citing a person familiar with the matter.A senior Trump administration official told reporters that the United States was open to further talks with Beijing, but did not provide immediate details on when any new meetings would take place."It's not a effort to limit China's efforts, it's an effort to work with China, and said the official said:" It's time to address these unfair trade practices, we have found that others have discovered these practices that have damaged the entire trading system. ".China has vowed to retaliate further against any new US policy.S.Tariffs with countriesThe running media advocated a positive "counterattack.The RMB exchange rate fell 0.3% to the United StatesS.The dollar in Asian trade on Tuesday.It has weakened by about 6.0% since MiddleIn June, tariffs of 10% were offset by a considerable margin.The U.S.The office of the trade representative removed 297 product categories from the proposed tariff list, as well as some subsets of other categories, but government officials said, the total value of the revised list will remain "approximately $200 billion ".An extensive, $23 billion category of the InternetBut some products, such as smart watches, Bluetooth devices, and other consumers-Over 6,000 comments were received during a long period of public review, and key technical products were removed.China's investment in the United States is also exempt from tariffs.S.-Chemicals used in manufacturing, textile and agriculture.Consumer safety products made in China, such as bicycle helmets sold outdoors in Vista, baby car seats and fences from Graco Inc., have also been removed from the list.But these adjustments did not appease technology and retail groups that believe tariffs will hit consumers hard."President Trump's decision to impose an additional $200 billion is reckless and will cause lasting harm to the nation's communities," said Dean Garfield, chairman of the information technology industry Commission, representing major technology companies.The Association of Retail leaders noted that the new tariffs will still hit China's gas stoves worth more than $1 billion, luggage and travel bags worth $0.843 billion, and mattresses worth $0.825 billion. And $1.Vacuum cleaner worth 9 billion"Tariffs are taxes on American families," said Hun Quach, vice president of international trade at RILA ."."Consumers-not China-will bear the brunt of these tariffs, and US farmers and ranchers will see the harmful effects of retaliation worsen."Republican Party.S.Lawmakers urged the Trump administration to continue negotiations with China to resolve trade differences, while praising Trump's tough stance on China's intellectual property and trade practices.Representative Kevin Brady, chairman of the House fundraising committee, said: "The sooner President Xi and President Trump meet, the better they can work out a new trade path .".