Published: Sat, August 18, 2018
Markets | By Jeffery Armstrong

US and China to Rekindle Trade Talks as More Tariffs Loom

US and China to Rekindle Trade Talks as More Tariffs Loom

The US introduced its safeguard tariffs in January this year.

"While taking safeguard measures against imported PV products", the spokesperson continued, "the United States side provides additional subsidies to renewable energy products such as photovoltaics manufactured in the country, which are suspected of forming import substitution subsidies and violating national treatment obligations". In addition to those tariffs, China is dissatisfied with the subsidies the United States provides to locally-made photovoltaics.

On May 22, the WTO said Japan, Russia and Turkey warned the United States of retaliatory measures for its steel and aluminum tariffs.

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But many have speculated that the affects could cause significant harm to US industries.

Earlier, Beijing filed a separate WTO challenge on July 16 to Trump's proposal for yet another round of increases that would add 25 percent import duties on an additional $200 billion of Chinese goods.

On June 22, the European Union levied duties of 25 percent on 2.8 billion euros (3.2 billion dollars) of USA imports in retaliation of Washington's steel and aluminum tariffs.

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-Asked what Beijing should do in response to Trump's punitive tariffs, 19 (or 38 percent) said that it should strike back hard. Brussels said in late July that it was considering tariffs on 20 billion dollars of US goods should Trump proceed with the proposed auto duties.

The two governments have raised tariffs on billions of dollars of each other's goods.

After the application of these first taxes, China responded with a package of tariff countermeasures of equal weight to products of the North American nation.

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"As the US measures severely damaged Chinese trade interests, China's choice to resort to the WTO dispute settlement mechanism is a necessary move to safeguard its legitimate rights and interests and multilateral trade rules", a spokesperson with the ministry said.

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