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The administration is readying tariffs of up to 25 percent on an additional $200 billion in Chinese products.

In May, Chinese importers trying to beat Beijing's looming counter-tariffs led to a surge in U.S. exports of crude oil and soybeans, temporarily driving down the trade deficit and helping boost GDP growth in the April-June period to 4.1 percent.

A spokesman for the commerce ministry described the latest round of US tariffs as "very unreasonable".

The Trump administration has accused China of unfair trade practices, and President Donald Trump has long vowed to bring down the United States' trade deficit in goods with Beijing.

On July 6, the US began taxing the 818 goods, worth $34 billion, remaining from the April list. Beijing, accusing the United States of trade bullying, has retaliated by imposing tariffs on an equal measure of American goods.

For its part, China has threatened to ratchet up the tit-for-tat trade war by slapping tariffs on another $60bn of American imports.

Although the move was expected, it cements the view that there appears to be no effort underway to defuse the dispute between the world's two largest economies that have continued to exchange threats.

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A weaker yuan, which marked its worst 4-month fall on record between April and July, may have taken the sting out of 25 percent tariffs on $34 billion exports to the United States.

The government has responded by releasing more liquidity into the banking system, encouraging lending and promising a more "active" fiscal policy.

April 4: China rolls out a listof more than 100 United States goods worth roughly $50 billion that are subject to retaliatory tariffs.

"There is no off-ramp, and Trump has given China little wiggle room to save face and come to the bargaining table", he said.

China's imports rose 27.3 percent year-on-year in July, in a sign domestic demand remains solid, but the worry is that the escalating Sino-U.S. trade war, rising corporate bankruptcies, and a steep decline in the yuan could put a significant dent on the economy. China in turn retaliated by proposing tariffs on $60 billion worth of US goods, with the extra levies ranging from 5 to 25 percent.

All China's main state newspapers published a lengthy commentary by the official Xinhua news agency, entitled "declaration", on their front pages.

John Neuffer, president and CEO of the Semiconductor Industry Association, said in a statement they were disappointed and puzzled why semiconductors remain on the final tariff list.


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