China appeals for USA calm after new tariff threat

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China has announced retaliatory tariffs on $US60 billion ($81b) worth of USA goods ranging from liquefied natural gas (LNG) to some aircraft and warned of further measures, signalling it will not back down in a protracted trade war with Washington. "Unilateral threats and pressure will only be counter productive".

U.S. President Donald Trump attends a meeting with inner city pastors at the Cabinet Room of the White House in Washington D.C., U.S., August 1, 2018.

"We urge the United States to correct its attitude and not to try to blackmail China because it will never work", said Geng at a news conference.

China's finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, ranging from five to 25 per cent.

China, which has accused the United States of bullying, again vowed to retaliate if Trump proceeds with the measures, warning that pressure tactics would fail.

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China and the US have raised tariffs on billions of dollars of each other's goods over complaints Beijing steals or pressures foreign companies to hand over technology.

China's imports from the United States past year totalled $153.9 billion.

Administration officials at the time said the tariff fight was aimed at forcing China to stop stealing American intellectual property and to abandon policies that effectively force USA companies to surrender their trade secrets in return for access to the Chinese market.

A week after moving to ease trade tensions with the European Union, the administration said it would consider imposing a 25 percent tariff on certain Chinese imports, up from the 10 percent Trump proposed last month.

From left, China's President Xi Jinping and U.S. President Donald Trump shake hands on November 9, 2017, during a meeting outside the Great Hall of the People in Beijing.

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The $200 billion list of goods targeted for tariffs - which also include Chinese tilapia fish, printed circuit boards and lighting products - would have a bigger impact on consumers than previous rounds of tariffs.

In addition, the United States claims that China is stealing intellectual property despite the practice having been tolerated since China entered the World Trade Organization (WTO).

While a trade dispute is obviously not comparable to a shooting war, the current U.S.

The Trump administration is proposing raising planned taxes on $200 billion in Chinese imports to 25 percent from 10 percent, turning up the pressure on Beijing in a trade war between the world's two biggest economies. "The cost increases will be passed on to customers, so it will affect most Americans' pocketbooks".

U.S. President Donald Trump's administration is proposing a tariff rate increase on $200 billion worth of Chinese goods to 25 percent from 10 percent as the two countries continue conversations to determine whether trade talks can be resumed, senior Trump administration officials said on Wednesday.

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In its statement, however, the Chinese Commerce Ministry said China can achieve "high-quality" economic growth despite the toll exacted by tariffs: "China always holds on to the belief that bad things can be turned into good things". It has typically taken several weeks after the closing of public comments for tariffs to be formally activated.

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