China to hit USA with tariffs on United States imports worth $17bn

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US President Donald Trump accused Beijing of "being vicious" on trade, stressing that Chinese measures were targeting US farmers on objective.

President Trump welcomes Chinese President Xi Jinping at Mar-a-Lago in Florida.

Talks between Washington and Beijing are at an impasse in the ongoing trade spat, with both sides continuing to threaten new tariffs.

USTR said there were 279 new goods to be targeted in the dispute over China's policies promoting theft of American technology. US and Mexican negotiators are finalizing new rules for granting automobiles duty-free treatment, which would require more manufacturing work to be done in high-wage factories, according to three sources familiar with the talks, who spoke on the condition of anonymity to discuss confidential talks.

While trade tensions are being ratcheting up, China's trade surplus with the USA stood at US$28.1 billion in July, close to the record-high in June, data released Wednesday showed.

Still, the administration's hard-line stance on China is stirring doubts among congressional Republicans and business leaders, who fear it may rupture profitable commercial relations.

Several industry bodies in the United States representing agribusiness, retail and technology have said the Trump administration's tariffs are hurting them and will cause long-term damage to farmers, manufacturers and consumers.

"Their plan may not be to get China to cry uncle".

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"We expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather than United States tariffs, the direct impact of which will continue to be mostly offset by the renminbi's (yuan's) recent depreciation".

In July, the administration imposed 25% tariffs on $34 billion in Chinese imports. Last year, China imported about $130 billion of US goods.

China's Commerce Ministry called the US decision to place the latest round of tariffs on Chinese goods "unreasonable", and said it chose to take counter measures, matching the tariffs in percentage and value.

The US will impose a 25% tariff on $16 billion worth of Chinese goods starting August 23.

The world's top two economies have repeatedly sparred over trade in recent months, in what experts warn may become a devastating cycle of retaliation. "That's going to be the new reality".

Gary Hufbauer, a senior fellow and trade expert at the Peterson Institute for International Economics in Washington, said he expected that there would be little to stop further escalation of the U.S.

Trade with countries along the Belt and Road totaled 4.57 trillion yuan, up 11.3 percent year on year, 2.7 percentage points faster than the average growth rate, data showed. The move appears to wreck the nascent trade deal.

March 1: President Donald Trump announcestariffs on all imports of steel and aluminum, including metals from China.

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