China Trade War: Five Experts On Trump's Tariffs

Apple Watch, AirPods excluded from next round of tariffs says new report

Beijing has vowed to retaliate on a range of U.S. products valued at around $60 billion.

These will apply to nearly 6,000 items, marking the biggest round of U.S. tariffs so far.

The new tariffs - likely to be at 10 per cent - will apply to more than 1,000 products including smartphones, toys and TVs, which in turn will lead to higher prices for American consumers.

The US had already imposed 25% tariffs on $50bn (£38bn) in Chinese imports.

The US tariffs start at a rate of 10%, before rising to 25% at the end of the year.

"Once again, I urge China's leaders to take swift action to end their country's unfair trade practices", Trump said.

The US imported around $500 billion worth of products from China previous year, compared to $130 billion in US goods imported by the Asian country.

Before the latest announcement, 20% of total tonnage and trade value of the Los Angeles port was exposed to the tariffs and retaliatory charges.

Chinese stock markets opened lower on Tuesday.

China warns it has no choice but to retaliate against the latest round of U.S. tariffs but did not specify how.

Yes, it has. In fact, this latest round marks the third set of tariffs put into motion so far this year.

In July, the White House increased charges on $34b worth of Chinese products. Either companies will absorb the price impacts - which would mean lower profits, less investment and fewer jobs - or they will pass them on to consumers. However, because China exports more to the United States than it imports there are limits on the amount of tariffs Beijing can impose on American goods.

While economists generally estimate that the overall economic impact of the tariffs will be a fraction of a percentage point, they caution that the effects are hard to predict.

Other items that have been on the U.S. target list since the summer include milking machines for dairy cows, incubators for baby chicks, flight data recorders, x-ray tubes, bulldozers and arc lamps as well as motorcycles and mopeds.

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The Journal report quoted one senior Chinese advisory official saying China would not negotiate "with a gun pointed to its head". Other commentators have suggested Beijing use its holdings of US government debt or target American companies in China.

Officials said they wanted to shield consumer goods from the taxes as much as possible.

But many everyday items such as suitcases, handbags, toilet paper and wool are included in this latest round of tariffs.

A pair of sources cited by Bloomberg say that when the final list is released on Monday, the product code covering the Apple Watch and AirPods, along with other smartwatches and fitness trackers, will be excluded from that list.

A group of tech companies including Cisco Systems Inc, Dell Technologies Inc, Hewlett-Packard Enterprise Co and Juniper Networks had asked that many of those items be dropped, but they remained on the list with only a few exceptions such as a group of networking-related accessories. The administration is targeting a bewildering variety of goods - from sockeye salmon to baseball gloves to bamboo mats - forcing US companies to scramble for suppliers outside China, absorb the import taxes or pass along the cost to their customers.

Why is the United States doing this? Those goods will now be taxed 10 per cent.

United States officials hope the risk of economic harm will convince the Chinese government to change its policies. "Congress has not given the president or the USTR a blank check to pursue a trade war", Gary Shapiro, CTA's president and CEO, said.

"They did it with Mexico on auto tariffs and NAFTA (an agreement signed by Canada, Mexico and the US)".

USA business groups reacted angrily to the announcement, saying the tariffs would raise consumer prices and threaten jobs. The levies focused on industrial products, not on things Americans buy at the mall or via Amazon. It said only that the tariff hike "brings new uncertainty to the consultations".

"For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies". However, because of the trade imbalance between the United States and China, Beijing won't be able to continue matching Trump's tariffs.

Are the two sides talking?

.

Officials from both countries have met four times for formal talks, most recently in August, when Treasury's undersecretary for global affairs, David Malpass, led discussions in Washington with Chinese Vice Minister Wang Shouwen. Efforts to restart discussions have failed to progress.

The Wall Street Journal reported that Beijing was considering sending Vice Commerce Minister Wang Shouwen to trade talks this month but not Vice Premier Liu He, a senior official who is close to China's president.

It was not clear what statement from Beijing the president was referring to in his post.

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