June 15: Trump rolls out thefinal list of goods subject to new tariffs.
The measure comes shortly after Washington released the latest list of Chinese goods worth $16 billion that are set to face a 25 percent tariff.
The country's Ministry of Commerce said on Wednesday that it will impose a tariff of 25% on 333 new imports items from the United States, with metal and other products joining crude and other petroleum products on the list.
China's Customs Tariff Commission, under the State Council, published a list (link in Chinese) of 333 American imports that will face additional 25% tariffs starting August 23.
Falling within a list of $16 billion worth of traded items, the USTR pushed live its finalised tariff list on Tuesday, having tentatively published a 284 category proposal back in June.
Beijing has called on United States officials to be "cool headed", but fired back warning it would impose duties on an additional $60 billion in U.S. goods, a threat the White House dismissed as "weak".
However, analysts still expect a less favorable trade balance for China in coming months given it's early days in the tariff brawl.
Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over market access, intellectual property, technology transfer and investment.
China's announcement is a direct response to new duties on Chinese goods imported into the United States, announced Tuesday in Washington. "Of course, China will retaliate, probably dollar for dollar", Hufbauer said.
Administration officials believe that the $505 billion Americans spend on Chinese products each year gives them leverage over China. The financial pain so far has been felt by individual companies or industries - and their workers - rather than by either the overall USA or Chinese economy.
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