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US-China trade war: Trump imposes third wave of tariffs on $200bn of Chinese goods

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US-China trade war: Trump imposes third wave of tariffs on $200bn of Chinese goods

[vc_row][vc_column][vc_column_text]The escalating US-China trade war entered a new phase with US President Donald Trump on Monday announcing new tariffs on an additional USD 200 billion worth of imports from China.

These will apply to almost 6,000 items, marking the biggest round of US tariffs so far. With Monday’s announcement, roughly half of the $505 billion in goods that Americans buy annually from Chinese firms will face new import levies and consumers will have to shell out more for these goods.

Starting Sept 24, American importers will pay an extra 10 percent tariff for the affected items, rising to 25 percent at the end of the year, according to senior administration officials, who briefed reporters.

Trump, accusing China of refusing to change its unfair trade practices, said the new additional tariff structure would be effective September 24 from when it would be at 10 percent until the year end, but would increase to 25 per cent level from January 1.

This latest round marks the third set of tariffs put into motion so far this year. In July, the White House increased charges on $34bn worth of Chinese products. Then last month, the escalating trade war moved up a gear when the US brought in a 25% tax on a second wave of goods worth $16bn.

After the latest round, around half of all Chinese imports to the US are now subject to the new duties. It is also the biggest set of tariffs to date, and unlike the earlier rounds this latest list targets consumer goods, such as luggage and furniture.

That means regular households may start to feel the impact from higher prices. US companies have already said they are worried about the effect of higher costs on their businesses and warned of the risk of job cuts.

Unlike the $50 billion in Chinese products that Trump hit in the first tariff wave in July, which fell mainly on industrial goods, Monday’s action will affect consumer products such as air conditioners, spark plugs, furniture and lamps.

Officials have said they want to shield consumer goods from the taxes as much as possible.

But Monday’s action will affect consumer products such as air conditioners, spark plugs, furniture and many everyday items such as suitcases, handbags, toilet paper and wool. The list also includes several food items from frozen cuts of meat, to almost all types of fish from smoked mackerel to scallops and soybeans, various types of fruit and cereal and rice.

Products that help computer networks operate, such as routers, are also targeted.

The list slated for tariffs originally included more than 6,000 items, but US officials later removed about 300 types of items, including smart watches, bicycle helmets, play pens, high chairs and baby car seats.

The changes come after fierce opposition from companies, including global tech giants such as Apple, Dell and Hewlett Packard Enterprise. The US trade representative’s office received roughly 6,000 written comments when Trump first proposed the new tariffs, most opposing them.

The firms complained the tariffs would make their products more expensive, since many of their products are manufactured in China, costing them sales.

So far, however, the US economy has shrugged off the president’s trade war. While individual companies have complained about their operations being disrupted by material shortages or cost increases, growth remains strong and unemployment is approaching a half-century low.

Excluding fuel, import prices rose just 1.3 percent over the past year, according to the Bureau of Labor Statistics.

But uncertainty over trade policy remains unusually high. While economists generally estimate that the tariffs will have little impact on the overall US economy, they have warned that the effects are difficult to predict.[/vc_column_text][vc_column_text css=”.vc_custom_1537264144661{padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #a2b1bf !important;border-radius: 10px !important;}”]Trump has long been fiercely critical of China, accusing it during the 2016 campaign of “the rape” of the American economy and vowing to create a more balanced trade pattern. Yet despite months of tariff talk, the gap between what the US buys from China and what it sells there continues to widen.

Through July, the US ran a $233.5 billion trade deficit in goods trade with China, an 8 percent increase compared with the same period in 2017.[/vc_column_text][vc_column_text]US-China trade war: Trump imposes third wave of tariffs on $200bn of Chinese goods

China has vowed to retaliate for the latest US tariffs with new import taxes on $60 billion in American products. If that happens, the president said, he would immediately begin the process of approving tariffs on a further $267 billion in Chinese imports – effectively taxing everything Americans buy from China.

“… if China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately USD 267 billion of additional imports,” Trump said in a strong warning to China.

The US action came even as Chinese officials weighed an invitation to visit Washington for new talks aimed at ending the months-old dispute. “The Trump administration is yet again sending a perplexing mixed message by inviting Chinese officials for negotiations and then imposing additional tariffs in the run-up to the talks,” said media reports quoting Eswar Prasad, former head of the International Monetary Fund’s China division. “It is difficult to see what the administration’s vision of an end game might be other than total capitulation by China to all US demands.”

Trump said his administration is taking this action as a result of the Section 301 process that the USTR has been pursuing for more than 12 months. US Trade Representatives (USTR) released a list of such items.

After a thorough study, the USTR concluded that China is engaged in numerous unfair policies and practices relating to US technology and intellectual property – such as forcing United States companies to transfer technology to Chinese counterparts, he said.

These practices plainly constitute a grave threat to the long-term health and prosperity of the US economy, he added.

“For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies. We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly,” he said.

“But, so far, China has been unwilling to change its practices,” he said. To counter China’s unfair practices, he had announced on June 15 that the US would impose tariffs of 25 percent on USD 50 billion worth of Chinese imports.

“China, however, still refuses to change its practices – and indeed recently imposed new tariffs in an effort to hurt the United States economy,” Trump said.

China, he said, has had many opportunities to fully address US concerns. “I urge China’s leaders to take swift action to end their country’s unfair trade practices. Hopefully, this trade situation will be resolved, in the end, by myself and President Xi of China, for whom I have great respect and affection,” Trump said.

Later a senior administration official told reporters that China has had many opportunities to change those practices and, in fact, the statute says that trade representatives shall take all appropriate and feasible action in an effort to obtain the elimination of those practices.

“So we’ve negotiated and negotiated and negotiated and given them chance after chance after chance… The administration has imposed tariffs on roughly USD 50 billion worth of Chinese imports already, in an effort to encourage China to alter its behaviour,” the official said.

By imposing such a tariff, the official said, the US is not trying to constrain China’s growth.

“We have no problem with China trying to grow its economy, trying to lift its people out of poverty, that’s a good thing. But, in doing so, they can’t take actions that deliberately discriminate against other countries; actions that hurt American workers. And they can’t take actions that entirely flout the rules of the international trading system,” the official said.

“This is an effort to work with China and say, it’s time that you address these unfair trading practices that we have identified, that others have identified, and which have harmed the entire global trading system,” the official asserted.

At the same time, the official said, the US remains open to negotiations. “We don’t have anything to announce to you today, in terms of any of the logistics of that, but, as the President has said, we are open to that and we hope that China will come to the table and address the concerns that we have raised,” the official said.

House Ways and Means Committee Chairman Kevin Brady said Trump is clearly increasing the pressure on China to come to the table and begin a new trading relationship that is fairer to the American farmers, workers and businesses.

“The sooner President Xi and President Donald Trump meet to craft a new trade path forward, the better,” he said.

“There is no disagreement between the Congress and the President that we must hold China accountable for hurting the US companies and workers on a colossal scale by extorting our companies to transfer their best technology, stealing our intellectual property, and shoring up China’s state-run companies through subsidies and other distortive practices,” Brady said.

“Any time tariffs are imposed, I worry that Americans will be forced to pay extra costs – in this case on nearly half of the US imports from China,” he said.[/vc_column_text][/vc_column][/vc_row]

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Amid India-Canada diplomatic tensions, Justin Trudeau shares video of his Diwali celebrations

This comes a day after India expressed its concern over the reports of cancelled Diwali celebrations in Canada.

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Amid the ongoing diplomatic tensions between Canada and India over the killing of Khalistani terrorist Hardeep Singh Nijjar, Canadian Prime Minister Justin Trudeau on Sunday shared a video of his Diwali celebration on social media platform X.

Sharing a 44-second video of his Diwali celebrations on social media, the Canadian Prime Minister wrote, “Happy Diwali! So many special moments shared celebrating with the community this week.”

This comes a day after India expressed its concern over the reports of cancelled Diwali celebrations in Canada.

The Ministry of External Affairs spokesperson Randhir Jaiswal on Saturday, while addressing the media over Canada’s serious allegation against Union Home Minister Amit Shah’s involvement in the killing of Khalistani terrorist Nijjar, said it was unfortunate that the prevailing atmosphere in Canada has reached high levels of intolerance and extremism.

In the video, Prime Minister Trudeau showed off some colorful religious threads on his wrists, explaining that he received them during visits to three Hindu temples in Canada recently. He called them symbols of “good luck” and “protection,” adding with a smile, “I’m not taking them off until they fall off”.

Trudeau was also seen interacting warmly with the community, celebrating the festival, and enjoying delicious Indian sweets like jalebis, which he jokingly said he would “save for the team.”

On November 1, Trudeau posted on X, “Happy Diwali! Today, Hindu, Sikh, Buddhist, and Jain families will celebrate the triumph of light over darkness with festivities, candles, diyas, and fireworks. Wishing you all joy and prosperity during this special time.”

Addressing a press conference in Delhi, Jaiswal said India condemns the recent allegations made by the Canadian government against Shah that he was purportedly involved in the killing of Nijjar and called it “absurd and baseless”.

Jaiswal also said that India had summoned the Canadian High Commissioner on Friday to protest in the strongest terms for the references made to the Union Home Minister of India before the Committee by Canada’s Deputy Foreign Affairs Minister David Morrison.

On Tuesday, Morrison claimed that Shah orchestrated a campaign of violence, intimidation, and intelligence-gathering aimed at Sikh separatists on Canadian soil. He informed members of Canada’s national security committee in Parliament that he had confirmed Shah’s name to The Washington Post, which was the first to report the allegations. However, Morrison did not provide details on how Canada became aware of Shah’s alleged involvement.

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India, China complete disengagement in Depsang, Demchok at LAC after 4 years standoff

The Indian Army said that coordinated patrolling will start soon by both sides, and the ground commanders will continue to hold talks.

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India, China complete disengagement in Depsang, Demchok at LAC after 4 years standoff

In a significant development, India and China have completed the disengagement exercise in the Depsang and Demchok friction points at the Line of Actual Control (LAC) in eastern Ladakh. The troops of both the countries are now verifying the vacation of positions and removal of infrastructure.

Reportedly, the Indian Army said that coordinated patrolling will start soon by both sides, and the ground commanders will continue to hold talks. The two sides will exchange sweets for Diwali tomorrow.

Earlier, Foreign secretary Vikram Misri announced that New Delhi and Beijing reached an agreement to disengage in the remaining friction points at LAC in eastern Ladakh. After the agreement, the two countries began troops disengagement at the two friction points at Demchok and Depsang plains on October 23.

India-China relations worsened because of the Chinese troops’ aggression along the Line of Actual Control, the de facto border, in April 2020. It further deteriorated on June 15, 2020, after 20 Indian soldiers died in the line of duty thwarting the Chinese offensive in the Galwan Valley. New Delhi had said India’s bilateral relations with China will normalise only after the situation at the LAC returns to what it was before May 2020.

Reports said that the Indian Army and the Chinese People’s Liberation Army (PLA) have pulled back their forward-deployed troops and equipment from the two flashpoints, and have also dismantled temporary structures that had been built during the four-year-long standoff.

The Indian soldiers will resume their patrolling in areas that had been cut off because of the PLA’s presence. Nonetheless, the disengagement in Depsang and Demchok will not lead to the creation of buffer zones.

Both the countries had disengaged from Galwan Valley, Pangong Tso, Gogra (PP-17A) and Hot Springs (PP-15) areas and created buffer zones. Speaking to a newspaper publication, Lieutenant General Vinod Bhatia (retd), a former director general of military operations said that the disengagement at Depsang and Demchok will facilitate patrolling by both sides in a coordinated manner, and in the agreed upon frequency and strength of the patrolling parties.

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Iran says 2 soldiers killed in Israeli air strikes

Emphasising Iran’s right to self-defense under the UN Charter, the Iranian Foreign Ministry highlighted its obligation to counter foreign aggression.

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The Iranian Army said on Saturday that two of its soldiers were killed in Israeli air strikes that targeted military bases.

Iran stated that its air defenses effectively countered the attack, resulting in the unfortunate deaths of two soldiers and some areas suffering limited damage.

The Israeli military conducted strikes on Iranian military sites after 2 am on Saturday, responding to what they cited as ongoing attacks by Iran and its allies in the region.

Following the strikes, the Israeli military announced they had successfully completed the mission and achieved their objectives.

The Israel Defense Forces (IDF) confirmed the precise targeting of military sites in Iran to neutralize immediate threats to Israel.

“I can now confirm that we have concluded the Israeli response to Iran’s attacks against Israel. We conducted targeted and precise strikes on military targets in Iran — thwarting immediate threats to the State of Israel,” the Israel Defence Force posted on X.

Iran’s air defense headquarters acknowledged the hits on bases in Ilam, Khuzestan, and Tehran but asserted that these attacks were effectively repelled, with investigations ongoing to assess damages. Moreover, Iran indicated its readiness to retaliate against any Israeli aggression, stating that Israel would face proportional consequences for its actions.

Iran expressed its intentions to respond to the Israeli attacks on its military bases, condemning the actions as a violation of international law and the UN Charter’s principles on the use of force.

Emphasising Iran’s right to self-defense under the UN Charter, the Iranian Foreign Ministry highlighted its obligation to counter foreign aggression.

Pakistan strongly condemned Israel’s strikes on Iran, attributing the escalation to Israel and urging the UN Security Council to intervene for peace and security.

British Prime Minister Keir Starmer emphasised that Iran should refrain from retaliating against Israel, advocating for restraint on all sides to prevent further escalation.

“I am clear that Israel has the right to defend itself against Iranian aggression. I’m equally clear that we must avoid further regional escalation and urge all sides to restrain. Iran should not respond,” the PM said at a Commonwealth Heads of Government Meeting.

The United States advised Iran to halt its attacks on Israel to cease the ongoing violence and break the cycle of conflict, underlining the importance of de-escalation.

“We urge Iran to cease its attacks on Israel so that this cycle of fighting can end without further escalation,” U.S. National Security Council spokesman Sean Savett told reporters.

President Joe Biden was briefed on the Israeli operation throughout its development and execution by his National Security Adviser, Jake Sullivan.

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