Chinese exports accelerate as U.S. prepares new tariffs in heated row

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In March 2018, the USTR had released the findings of its "exhaustive" Section 301 investigation that found China's acts, policies and practices related to technology transfer, intellectual property, and innovation are "unreasonable and discriminatory and burden United States commerce".

Imports also rose much faster in July thanks to still solid domestic demand, official data showed on Wednesday, with purchases of commodities like copper and iron ore rising from June.

President Trump is set to impose steep tariffs on a further $16 billion of Chinese exports this month, escalating the fierce trade dispute between the world's two largest economies.

"We have made the case to the Administration, in the strongest possible terms, that tariffs imposed on semiconductors imported from China will hurt America's chipmakers, not China's, and will do nothing to stop China's problematic and discriminatory trade practices", he said.

August 1: Washington more than doubles the value of its tariff threats against Beijing, announcing plans to increase the size of proposed duties on $200 billion worth of Chinese goods to 25% from 10%. Chinese imports of goods and services into the United States past year amounted to almost $524 billion.

On July 6, the US began taxing the 818 goods, worth $34 billion, remaining from the April list.

It said a combined total of $6.3bn worth of semiconductors and related products would now be hit by tariffs.

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Trump has threatened to levy a 25% tariff on an additional $200 billion worth of Chinese imports to the United States - a move that would blow open the disagreement between the countries.

The Office United States Trade Representative (USTR) announced the tariffs in a statement released on Tuesday afternoon US time.

Although the move was expected, it cements the view that there appears to be no effort underway to defuse the dispute between the world's two largest economies that have continued to exchange threats.

The government has responded by releasing more liquidity into the banking system, encouraging lending and promising a more "active" fiscal policy. And Mr. Trump has threatened to impose tariffs on virtually everything China sells to the United States.

Imports grew 27.3 percent in July, customs said, beating analysts' forecast of 16.2 percent growth, and compared with a 14.1 percent rise in June.

The surplus with the United States was higher than China's overall trade surplus in July, which was $28.05 billion, indicating China ran a net trade deficit with the world excluding the U.S. After Liu visited Washington later that month, the nations released a joint statement pledging to reduce the USA trade deficit with China, among other things. Beijing is expected to hit $16 billion worth of United States goods with equal tariffs in response to Tuesday's move.

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