On Tuesday the United States announced that it is still under the menace of imposing tariffs on $50 billion worth imports from China. It added that it would make use of it unless it addresses the controversy over the takeover of the intellectual property of the United States.
Washington will stay the course ahead with barriers to investment by the companies based in China operating their subsidiaries and branches in the United States. This also includes export controls for goods exported to China- said a statement from the White House.
The export controls and investment details are more likely to be announced on June 30 and the final tariff list will be live on June 15.
Although Washington had not shown any signs to communicate regarding the threatened tariffs on imports from Beijing, China showed its harsh mood by making an announcement that said it would defend its interests.
The United States Trade Representatives have published a list of embryonic targets. However, the list packs intermediate goods used by companies for the manufacture of consumer goods and other products.
Financial Markets were also affected by the trade war between the United States and China. While some experts believe that the duo would prevent a serious economic conflict.
China has mentioned several times, that they are willing to look at measured to decrease China’s trade surplus with the United States. The move looks forth towards reducing the trade conflict between the two nations.
Commerce Secretary Wilbur Ross has planned a tour to Beijing this week in order to persuade China to accord to rigid numbers for the additional exports from the United States. The US looked forward towards decreasing the China trade surplus with America by $200 billion in two years. Yet some space is anticipated which would let China increase exports.