Trump administration escalates china 25 percent tariffs in imports

Vastavam web: The Trump administration on Tuesday raised the stakes in a growing trade showdown with China, targeting 25 percent tariffs on some 1,300 industrial technology, transport and medical products to try to force changes in Beijing’s intellectual property practices.The U.S. tariff unveiling, representing about $50 billion of estimated 2018 imports and aimed at dealing a setback to China’s efforts to upgrade its manufacturing base, drew an immediate condemnation from Beijing, along with a threat of retaliatory action.

“We have the confidence and ability to respond to any protectionist measures by the United States,” the ministry said in a statement quoted by the official Xinhua news agency.The ministry did not reveal any specific countermeasures, but economists widely view imports of U.S. soybeans, aircraft and machinery as prime targets for trade retaliation.The tariff list from the U.S. Trade Representative’s office followed China’s imposition of tariffs on $3 billion worth of U.S. fruits, nuts, pork and wine to protest new U.S. steel and aluminum tariffs imposed last month by U.S. President Donald Trump.