China “shocked” by U.S. trade actions

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China said it is “shocked”, after the US announced plans, the fresh rates, escalating a trade war between the two countries.

The US-listed $200 billion (£150bn) worth of additional products to, intends to, in place of the duties, as soon as September.

The move comes just a few days after the two countries imposed tit-for-tat-rates from $34bn to that of any other commodity.

Beijing described Washington’s threat as “completely unacceptable” to say it’s bad for the world.

“The behavior of the harm in US, China, hurt the world and hurt themselves,” a spokesman for China’s Ministry of Commerce said in a statement.

The spokesman also said the government had the “necessary measures”.

The list of the names of more than 6,000 products, such as food, minerals and consumer goods, such as handbags.

The public will have until the end of August to comment on the list before the new rates are imposed at 10% – in force.

Asian stock markets plummeted on Wednesday as investors shunned risk amid the escalating trade tensions between the two economic giants.

In China, Hong Kong’s Hang Seng index fell 1.6%, while the Shanghai Composite fell by 2%. Japan’s benchmark Nikkei-225 index shed 1.2%.
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The White house says the tariffs are a response to the unfair trade practices of China.

The US wants to stop China’s practices, which allegedly promoting the transfer of intellectual property, design and product ideas – Chinese companies, such as the requirements that foreign firms share ownership with local partners in the Chinese market.

US Trade Representative Robert Lighthizer said there was “no justification” for China’s retaliation.

“As in the past, the United States is ready to engage in efforts that could lead to a resolution of our concerns about China’s unfair trade practices and China open their markets to U.S. goods and services,” he said.

“In the meantime, we remain vigilant in the defense of the ability of our workers and businesses compete on Fairness and reciprocity.”‘Increasingly troubled”

Many companies in the US are in contrast to the management of the use of tariffs against China, you risk hurting business and the economy, without changing the likely behavior.

On top of the $34bn worth of fares, which came into force on Friday last week, the White house has said that consultations on tariffs on another $approximately 16 billion Euro of products. US President, Donald Trump has suggested, this could come into force later this month.

Overall, the new import, the President Trump threatens to impose the value of China’s total exports of goods in the United States in the value of more than $500bn last year, taxes are almost the same.

“It is a difficult situation for a number of our companies. They are increasingly concerned about where these all go,” Ed Brzytwa, Director for international trade for the American Chemistry Council, which represents chemical companies, said the BBC on Tuesday, before the latest measures were announced.

“You can’t figure out what is the ultimate goal.”