Chinese exports accelerate even as Trump escalates trade war

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According to the U.S. Trade Representative's office on Tuesday...16-billion worth of Chinese imports will be subject to 25 percent tariffs starting August 23rd.

The United States and China trade goods and services worth about $650 billion each year, the largest trading relationship in the world between two countries.

China fired back with its own warning and said it would impose duties on $60 billion of U.S. goods.

The new tariffs, the latest in the ongoing trade spat between USA and China, target industrial supplies, chemicals, motorcycles, tractors and tractor parts, rail cars, auto parts, some iron and steel, motor and machine components and more.

All the same, China's exports for July rose a bigger than expected 12.2 percent year-on-year, showing little tariff impact for now and beating June's 11.2 percent rise and analysts expectations in a Reuters poll for 10 percent growth.

The Chinese government said in a statement Wednesday that the taxes would be imposed on August 23.

The investigation had revealed that China uses joint venture requirements, foreign investment restrictions, and administrative review and licensing processes to require or pressure technology transfer from United States companies and it deprives USA companies of the ability to set market-based terms in licensing and other technology-related negotiations.

Sales to the USA rose by 13.3%, while China's surplus with the States shrank marginally to $28.1bn (£21.7bn) last month from a record $29bn (£22.4bn) in June. And President Donald Trump has threatened to impose tariffs on virtually everything China sells to the United States.

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But there seems no solution at sight as the Trump administration prepares for tariffs of up to 25 per cent on an additional Dollars 200 billion in Chinese products.

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

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 the meantime, it sought public comment on the new items. Beijing is expected to hit $16 billion worth of United States goods with equal tariffs in response to Tuesday's move.

"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", the commentary said.

His administration confirmed that its trade assault would soon cover more than $50 billion of products from China.

John Neuffer, president of the Semiconductor Industry Association, said: "We have made the case to the administration, in the strongest possible terms, that tariffs imposed on semiconductors imported from China will hurt America's..."

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