China Seeks Trade Talks on Tariffs

China announced that retaliatory tariffs measures on American imports took effect Monday.

At the same time, China urged trade talks with the U.S. on tariffs to prevent greater damage to relations.

China had earlier announced tariffs on 128 kinds of imported goods originating in the U.S. would take effect from Monday.  The reciprocal tariffs are valued at about $3 billion.  This represents a tiny fraction of its U.S. imports.

Those are in response to the U.S. tariffs on metal that President Donald Trump announced in March on national security grounds.  In response, Beijing said the move violated World Trade Organization rules.  At the same time, the U.S. announced some exceptions for allies, including Australia and Canada.

Items on Beijing’s original hit-list included fresh and dried fruits, ginseng, nuts, wine, and pork.  In addition, China has targeted certain steel products.  The estimated value matches its exports of steel and aluminum to the U.S.  So far, high-volume agricultural exports to China, such as soybeans, have not been targeted.

Furthermore, the Trump administration is preparing a list of other Chinese products which they will target with tariffs.  The U.S. will impose duties on about $50 billion in Chinese goods to punish Beijing for what Washington sees as widespread violations of American #intellectual property rights.  This follows an investigation under Section 301 of the 1974 U.S. Trade Act.  The U.S. administration says China has systematically misappropriated American intellectual property.  China has denied these allegations.

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