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What Is the Endgame for the Trump Trade Wars?

11 July 2018

President Donald Trump's administration has released a vast list of $US200 billion worth of Chinese exports that will be subject to 10% tariffs.

The administration will consult on the list over the summer, and make a final decision on tariffs after August 30, said a senior official.

The additional US tariffs, which will go through a two-month approval process including a public hearing, come after China retaliated in a tit-for-tat trade skirmish last week. Another source who is familiar with the situation confirmed the Bloomberg report to Reuters.

The Trump administration announced Tuesday that it has started the process of implementing fresh tariffs on $200 billion worth of imported Chinese goods.

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The move makes good on the president's threat to respond to China's retaliation for the initial USA tariffs on $34 billion in Chinese goods, which went into effect on Friday and would eventually place almost half of all Chinese imports under tariffs.

The U.S. complains that China uses predatory practices, including outright cybertheft, in a push to challenge American technological dominance.

The Retail Industry Leaders Association, a lobby group representing the largest U.S. retailers, said: "The president has broken his promise to bring maximum pain on China, minimum pain on consumers".

China immediately retaliated with duties on the same value of US goods, including soybeans and cars.

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So far, Chinese officials have not backed off their promises to retaliate to any Trump tariff move.

"Rather than address our legitimate concerns, China has begun to retaliate against United States products". He is also renegotiating NAFTA, demanding that Canada and Mexico lower trade barriers for the USA while allowing Washington to impose new barriers to Canadian and Mexican companies doing business in the U.S. "There is no justification for such action".

The President, who blames China and other developing countries for hollowing out the USA manufacturing sector, was elected in large part by promising to bring back factory jobs by going to war with trading partners.

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What Is the Endgame for the Trump Trade Wars?