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After threatening to impose billion-dollar tariffs on each other’s imports, China and the U.S have announced that they want to avoid a trade war and have opened back channel talks to find a solution that is acceptable to both countries. A top economic adviser to U.S. President Donald Trump says the threatened tariffs are a last resort that will only go forward if America is unable to achieve “fair trade” with China. The potential list of tariffs (over and above the existing Steel and Aluminum tariffs currently in effect) is available here.
The Trump administration is particularly concerned about restricted access to the Chinese market and the theft of American intellectual property. China believes these concerns are unfounded and has promised to retaliate if the U.S. follows through on its threat to impose tariffs of up to $150 billion on Chinese imports.
For more information, contact Brian Rowe, Director – Customs Compliance & Regulatory Affairs.
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