China fires back at US, raises own tariffs

Trump will impose tariffs on $50 billion of Chinese goods, prepared to retaliate if needed

Trump will impose tariffs on $50 billion of Chinese goods, prepared to retaliate if needed

After a spiralling trade dispute with President Donald Trump, China has announced its decision to hike the import duties on electric cars and a list of other goods accounting for $34 billion, which come from the United States of America.

In his press conference in Singapore on Tuesday, he said the USA has a "tremendous deficit in trade with China and we have to do something about it".

Ministry spokesperson Geng Shuang also said China would cancel any commitments to increase purchases of USA exports should tariffs be imposed.

"We will immediately launch tariff measures that will match the scale and intensity of those launched by the United States", the ministry promised, adding that "all economic and trade agreements reached by previous negotiations will be nullified at the same time".

"I stressed how important it is for President Trump to rectify that situation so that trade becomes more balanced, more reciprocal and more fair, with the opportunity to have American workers be treated fairly", Mr Pompeo said during a joint news conference with Chinese foreign minister Wang Yi.

Approved by the State Council, the Customs Tariff Commission of the State Council has chose to impose additional duties of 25 percent on 659 items of U.S. products worth about US$50 billion. When a auto is sent to China from the United States, there is a Tariff to be paid of 25 per cent.

U.S. Trade Representative Robert Lighthizer described the tariffs Friday as a "defensive" action. The tariffs are part of the U.S. response to China's policies and practices that require foreign companies to hand over trade secrets involving technology, intellectual property and innovation, the United States government said. The first will be levied on 818 products lines worth around $34 billion, and the second to $16 billion worth of imports on 284 products.

U.S., Mexico and Canada to host 2026 FIFA World Cup
The current USSF president Carlos Cordeiro believes the 2026 World Cup will be a "lightning rod" for soccer in the United States. Although it will be the first World Cup to be hosted by three countries, most matches will be played in the United States.

The US trade representative's office said it issued a revised China tariff list covering 1,102 separate product categories.

Tariffs on these products will go into effect at a later date after a public comment period.

The tariffs will be imposed on farm products, autos and seafood, the Journal report says.

"'There is no trade war".

China has quickly released some details on the retaliatory tariffs it plans to impose on USA goods. The affected nations have appealed to the World Trade Organization (WTO), demanding compensation over what they call a "protectionist measure".

The U.S. tariffs, which were expected, follow steep duties Trump imposed on steel and aluminum from Canada, Mexico and the European Union. The Chinese list includes agricultural products, automobiles, and aquatics.

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