China may consider countermeasures beyond the trade sector to possible US additional $100b: expert

Source:Global Times Published: 2018/4/6 10:33:01

China may consider more weapons beyond the trade sector in response to  $100 billion in additional tariffs on Chinese products that US President Donald Trump suggested on Thursday (US time).

"In light of China's unfair retaliation, I have instructed the USTR [US Trade Representative] to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs," Trump said in a statement.

The USTR on Tuesday published a proposed list of Chinese goods subject to additional 25 percent tariffs. On Wednesday, China announced to take counterattack on US tariff move by proposing to impose tariffs of 25 percent on 106 items made in the US, including soybeans, automobiles, chemical products and airplanes. 

USTR said in a statement issued on Thursday that China has chosen to respond thus far with threats to impose unjustified tariffs on billions of dollars in US exports, including our agricultural products. Under these circumstances, Trump "is right to ask for additional appropriate action," according to the statement. 

"The cooperation between China and the US runs deep, covering a full range of sectors so China has more weapons, even beyond the trade sector," Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Friday. In addition, the two countries have seen a gap in value-added bilateral trade, "which will define whose countermeasures are more powerful," he said.

Posted in: ECONOMY,BIZ FOCUS

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