(Bloomberg) — China urged the Trump administration to cool off from imposing new tariffs on another $200 billion tranche of that goods, as being the end of a formal comment period for the measures nears.
The U.S. should “take note of the calling from businesses and consumers both in countries, the belief that both countries are linked closely from the supply chain additionally, the fundamental interest of these two peoples to help make the right decision,” Secretary of state for Commerce spokesman Gao Feng said at the regular briefing in Beijing on Thursday. Over 90 percent of businesses consulted on the tariffs oppose them, Gao said.
President Donald Trump has imposed additional tariffs on $50 billion of Chinese imports and identified another $200 billion in goods focused on duties of as much as 25 %, between chemicals and seafood to vacuums and bicycles. Those duties might take effect following a comment period ends Sept. 6. Such an escalation with the trade conflict could shave just as much as 0.3 percentage point off China’s output growth buy.
Gao repeated Beijing’s line that U.S. “bullying” won’t work, which the media is confident of stable and sound trade this year.
On Wednesday, Trump accused China of undermining U.S. efforts to pressure North Korea into giving up its nuclear weapons, indicating his trade war with Beijing is beginning to exacerbate geopolitical tensions.
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