China is shooting back at the U.S. over the most recent round of tariffs on Chinese goods, filing an official complaint with the World Trade Organization. According to Reuters, The Chinese Commerce Ministry published its legal case that followed the new United States tariffs on billions of dollars of Chinese imports that went into effect Sunday, with the U.S. imposing 15 percent tax on about $112 billion of goods.
Trump indicated that U.S.-China trade discussions remain on the agenda for September but that “we can’t let China rip us off as a country.” China countered by forcing taxes of 10 percent and 5 percent on certain American imports, along with a duty on U.S. crude oil, as the trade war among the two countries continues to escalate. The second set of U.S. taxes is set for December on approximately $160 billion of imports.
In a statement, China’s Commerce Ministry said: “The U.S. tax measures are seriously opposed to the consensus of the leaders of the state of the two nations in Osaka. China is strongly dissatisfied and firmly opposed. In accordance with related WTO rules, China will strongly safeguard its genuine rights and interests and obstinately defend the multilateral trading system and the global trade order.” China filed its objection, the third it has brought toward the U.S. to the WTO, claiming that the latest U.S. tariffs are a breach of Chinese President Xi Jinping’s and President Trump’s agreement at the G20 summit in June in Osaka.
But the U.S. has looked to China’s theft of intellectual resources, a field not covered by WTO rules. in a published defense Friday the U.S. wrote of the first of the three legal cases, “China has taken the unilateral decision to adopt aggressive industrial policy measures to steal or otherwise unfairly acquire the technology of its trading partners; the United States has adopted tariff measures to try to obtain the elimination of China’s unfair and distortive technology-transfer policies.”
The comment remarked that China decided not to discuss concerns directly but to counter by requiring its own tariffs “in an effort to maintain its unfair policies indefinitely.” The U.S. will have 60 days to acknowledge the newest case delivered to the WTO, the intergovernmental organization which controls international trade.
Retailers have been left with little alternative but to relinquish the growing cost of Chinese-imported goods to buyers. University of California research quoted by the BBC predicts that by the time all new taxes are imposed by December, it could require U.S. households to pay an additional $800 a year. On Tuesday, President Trump warned that everything would get ‘tougher’ for China if he is reelected in 2020, pushing them to cooperate right now. He also reached out to others who allowed the U.S. to be “taken to the cleaners” by China in another tweet.
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