CHINA and the United States have imposed new tariff hikes on each other’s goods, with no sign of compromise in an intensifying battle over technology that is weighing on global economic growth.
US regulators went ahead with a planned 10% tax on a $200 billion list of 5745 Chinese imports including bicycles and furniture.
China’s customs agency said it responded by beginning to collect taxes of 5% or 10% on a $60bn list of 5,207 American goods, from honey to industrial chemicals.
The conflict stems from US President Donald Trump’s complaints that Beijing steals or pressures foreign companies to hand over technology.
American officials say Chinese plans for state-led development of global competitors in robotics and other technologies violate its market-opening obligations and might erode US industrial leadership. China’s leaders offered to narrow their politically sensitive, multibillion-dollar trade surplus with the United States by purchasing more natural gas and other American exports.
But they have rejected pressure to change industry plans the communist leadership see as a path to prosperity and global influence.
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