In Trade Dispute, China Put Import Taxes on US Goods
China has increased import taxes on $3 billion of American products in reaction to recent United States trade policies.
The Chinese government placed the tariffs on more than 100 products including pork, fruit and other goods. The measures are to take effect immediately.
China's finance ministry said the move was in reaction to U.S. tariffs on steel and aluminum imports announced in March.
China's most recent move adds to complex trade tensions involving the U.S., Europe and Japan. They say that China's government unfairly supports some companies. This support, they say, is like a subsidy that makes China's exports less costly and unfairly competitive.
The group also says that state support for Chinese companies violates China's requirements under the rules of the World Trade Organization.
Foreign governments also oppose a Chinese policy requiring foreign carmakers and other companies to work with a state-owned partner. The requirement means that companies doing business in China must share technology with a possible competitor.
Last month, U.S. officials said a plan by China to manufacture electric cars, robots and other high technology products was "hugely problematic." Business groups say the plan, called "Made in China 2025" would block foreign competition within China in those industries.
On March 20, Chinese Premier Li Keqiang promised there would be "no mandatory requirements for technology transfers." But, Chinese officials deny that foreign companies are required to hand over technology. This has caused some companies to be unsure if there is a change in policy.
Concerns about further trade actions
Experts say the new Chinese tariffs on U.S. goods are likely to have limited effect. However, many in the financial industry worry about a trade war. In such a case, countries would react to new tariffs with their own import taxes, placing new barriers to trade.
Stock markets in Tokyo, Shanghai, and New York all decreased on Monday.
Taimur Baig is an economist with the bank DBS Group based in Singapore. He told AP that tariffs "signal a most unwelcome development, which is that countries are becoming protectionist." But, he said the most recent tariffs are, in his words, "not very substantial" compared to China's total imports from the U.S.
However, the tariffs announced on Monday might target states that voted for U.S. President Donald Trump in 2016. Many of those are farm states.
China is placing a 25 percent tariff on U.S. pork products and aluminum scrap metal. It also is placing a 15 percent tariff on some kinds of wine, steel pipe used by oil and gas companies and many agricultural products such as apples, walnuts and grapes.
It is unclear if China will make an exception for Chinese-owned Smithfield Foods, the biggest pork producer in the U.S. China imported about $1.1 billion in pork products in 2017.
Experts are concerned about a new round of proposed tariffs on Chinese exports to the U.S. The Trump administration announced in March that it is preparing a list of products that could face tariffs. The AP reports that administration officials have identified over 1,000 imported products worth about $48 billion that could face additional tariffs.
Trump has promised to reduce the U.S. trade deficit with China which reached a record of $375 billion in 2017. The U.S. president said he asked China to find a way to reduce that deficit by $100 billion.
White House spokeswoman Sarah Huckabee Sanders said Monday on the television show "Fox and Friends" that Trump was "going to fight back and he's going to push back."
I'm Mario Ritter.
1.fight back 反击
We should take some comfort from the ability of the judicial system to fight back against corruption.
2.trade deficit 贸易逆差
The realistic way to address the US-Sino trade deficit is to increase America's exportation to China.
3.trade war 贸易战
The most important thing is to reach an agreement and to avoid a trade war.
4.push back 使...后退
Whatever is pushing on you, you've got to push back.
5.It is unclear if China will make an exception for Chinese-owned Smithfield Foods, the biggest pork producer in the U.S.
make an exception for 破例；免除
Could you make an exception and accept D/ P for this transaction?
I can't make an exception for you.
6.The Chinese government placed the tariffs on more than 100 products including pork, fruit and other goods. The measures are to take effect immediately.
take effect 生效；起作用
International sanctions were beginning to take effect.
The traffic laws don't take effect until the end of the year.
中国的最新举措加剧了美国、欧洲和日本在内的复杂的贸易紧张局势。他们称，中国政府不公平地扶持一些公司 。这种“补贴式”扶持使中国的出口成本更低并且不公平竞争 。
3月20日，中国国务院总理李克强承诺不会强制要求技术转让。中国官员否认要求外国公司转让技术 。这导致一些公司拿不准政策是否生变 。
专家表示，中国对美国商品征收的新关税可能成效有限。然而，多数金融业人士担心发生贸易战 。在这种情况下，各国将出台进口税应对新关税，设置新的贸易壁垒 。
经济学家Taimur Baig在总部位于新加坡的星展银行任职。他对美联社表示，关税意味着“最不受欢迎的发展趋势——各国开始成为贸易保护主义者 。”但是，他表示，与从美国进口的商品相比，中国最新的关税有些“微不足道” 。
专家们对中国对美出口的新一轮拟议关税表示担忧。特朗普政府3月份曾宣布正准备一份可能面临关税的产品清单 。据美联社报道，政府官员已经确定了价值480亿美元的1000多种进口商品可能面临额外关税 。