Chinese exports accelerate even as Trump escalates trade war

In March 2018, the USTR had released the findings of its "exhaustive" Section 301 investigation that found China's acts, policies and practices related to technology transfer, intellectual property, and innovation are "unreasonable and discriminatory and burden United States commerce". Chinese data on Wednesday showed exports to the USA rose 13.3% in July to $41.5 billion against a year ago.

The US will impose a 25% tariff on another $16 billion worth of Chinese goods starting August 23, US Trade Representative Robert Lighthizer announced Tuesday. China's exports to the United States fell by 2.5 percent to $41.5 billion month-on-month, while imports of U.S. goods plunged 1.5 percent to $13.4 billion, according to data from General Administration of Customs on Wednesday, as quoted by the media.

The fresh tariffs will apply to 279 items.

Although the move was expected, it cements the view that there appears to be no effort underway to defuse the dispute between the world's two largest economies that have continued to exchange threats.

The latest commentary from state media on Wednesday took a softer line after resorting to personal attacks against Trump earlier in the week, saying China could get through the storm but refrained from directly mentioning the US President.

The government has responded by releasing more liquidity into the banking system, encouraging lending and promising a more "active" fiscal policy.

The Trump administration ramped up the pressure for trade concessions from Beijing last week by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports.

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Imports grew 27.3 percent in July, customs said, beating analysts' forecast of 16.2 percent growth, and compared with a 14.1 percent rise in June.

Of more direct outcome in the Sino-U.S. trade war, China's surplus with the United States shrank only marginally to $28.09 billion last month from a record $28.97 billion in June.

The US says the tariffs are to penalise China for "unfair" trade practices.

It has not yet given a date for its previously announced retaliatory tariffs on $16 billion in U.S. goods, which will target commodities such as crude oil, natural gas, coal and some refined oil products.

May 19: After a meeting, the two countriesannounce the outline of a trade dealto avoid the tariffs.

The United States has stepped up its trade war with China... by announcing a new round of tariffs.

The US will begin imposing 25% duties on an additional $16 billion in Chinese imports in two weeks, escalating a trade war between the world's two biggest economies.

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