China's July exports rise more than expected despite US tariffs

Trade war US finalizes new batch of tariffs on $16bn of Chinese products

An earlier round of tariffs that went into effect on July 6 applied to $34 billion in imports.

For its part, China has threatened to ratchet up the tit-for-tat trade war by slapping tariffs on another $60bn of American imports. For instance, the major complaint is about the theft of USA intellectual property by Chinese firms.

The Trump administration just announced tariffs on another $16 billion in Chinese imports to the U.S.

Sales to the USA rose by 13.3%, while China's surplus with the States shrank marginally to $28.1bn (£21.7bn) last month from a record $29bn (£22.4bn) in June.

March 22:Trump announces plans to hit$50 billion worth of Chinese goods with a 25% tariff.China announces tariffsin retaliation to the steel and aluminum duties and promises a response to the latest USA announcement. "The risk is that the U.S. administration's gamble to strong-arm China into giving into all U.S. demands without some compromise only leads to successive rounds of higher and higher tariffs". Year-on-year, the growth of China's exports to the U.S. slowed to 11 percent last month from 12.5 percent in June, while import growth accelerated to 11 percent from 9 percent.

After a strong start to the year, growth in the world's second-largest economy cooled slightly in the second quarter, partly hit by the government's years-long efforts to tackle debt risks.

The world's top two economies have repeatedly sparred over trade in recent months, in what experts warn may become a devastating cycle of retaliation.

The US decision to levy 25 percent tariffs on the same value of Chinese goods is "very unreasonable", and China will have to retaliate to protect its rightful interests and the multilateral trading system, China's ministry of commerce said in a statement.

The latest commentary from state media on Wednesday took a softer line after resorting to personal attacks against Trump earlier in the week, saying China could get through the storm but refrained from directly mentioning the US President.

China has, in recent years, become a key export market for growing US energy exports.

"Although this may for a moment bring preening with delight, it will make it hard to resolve economic imbalances or out of kilter politics and other deep-rooted problems", it said.

The United States has stepped up its trade war with China... by announcing a new round of tariffs.

The latest $16 billion list from the United States will hit semiconductors from China, even though numerous basic chips in these products originate from the United States, Taiwan or South Korea.

The office said the move is part of the USA response to China's unfair trade practices related to the forced transfer of American technology and intellectual property.

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