Chinese exports accelerate even as Trump escalates trade war

Trump going ahead with taxes on $16B in Chinese imports

Beijing has announced plans to retaliate immediately against the latest round of USA tariffs on Chinese imports by slapping a wide range of American products, worth $16 billion, with a 25 percent levy.

In July, the administration imposed 25% tariffs on $34 billion in Chinese imports.

In a statement on its official website late on Wednesday, China's commerce ministry criticized the USA move as being "unreasonable", saying it had no choice but to adopt the same measure on an equal amount of American goods ranging from oil and steel products to autos and medical equipment.

US President Donald Trump started announcing new tariffs on imports in January as part of an attempt to negotiate what he called "fair, bilateral trade deals that bring jobs and industry back onto American shores".

The US is now considering tariffs on another $200bn in goods, including consumer products that were spared duties in the initial $50bn round.

President Trump had repeatedly expressed discontent over the USA trade deficit with China, accusing the country of unfair trade practices, intellectual property theft, currency manipulation, and of providing state aid to Chinese firms.

The Trump administration has maintained that the tariffs are necessary to force China into changing economic behavior it says harms the US.

China's trade with the US also continued to rise in July despite the tariffs, with exports up 11.2 percent year-on-year, and imports increasing 11.1 percent.

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At the same time, Beijing reported a $28.1bn trade surplus with the USA in July, just below the record $28.9bn seen in June.

Although the move was expected, it cements the view that there appears to be no effort underway to defuse the dispute between the world's two largest economies that have continued to exchange threats.

The escalating trade conflict between the world's two largest economies...has seen the two sides impose tariffs on 34-billion dollars worth of each other's goods.

China fired back warning it would impose duties on $60 billion in United States goods.

Trump has threatened to levy a 25% tariff on an additional $200 billion worth of Chinese imports to the United States - a move that would blow open the disagreement between the countries.

In April, the administration had announced plans to slap tariffs on 1,333 Chinese product lines worth $50 billion a year.

Front page commentary published across all state newspapers by the official Xinhua news agency said: "Certain people go against the tide for their own private ends and go against morality; the barrier of tariffs wantonly rise, and the stick of hegemony is raised all around".

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