U.S. Targets $300B of Chinese Goods for New Tariff Hikes

U.S. officials listed $300 billion more of Chinese goods for possible tariff hikes while Beijing vowed Tuesday to “fight to the finish” in an escalating trade battle that is fueling fears about damage to global economic growth.The U.S. Trade Representative’s Office issued its target list after Beijing announced tariff hikes Monday on $60 billion of American goods in their spiraling dispute over Chinese technology ambitions and other irritants. Chinese authorities were reacting to President Donald Trump’s surprise decision last week to impose punitive duties on $200 billion of imports from China.

“China will fight to the finish,” said a foreign ministry spokesman, Geng Shuang.

“We have the determination and capacity to safeguard our interests,” Geng said. “China’s countermeasures have shown our determination to safeguard the multilateral trade system.”

The latest U.S. list of 3,805 product categories is a step toward carrying out Trump’s May 5 threat to extend punitive 25% duties to all Chinese imports, the USTR said. It said a June 17 hearing would be held before Washington decides how to proceed.

 Read more at Real Clear Politics

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