China threatens tariffs on $60B in U.S. imports

BEIJING — China said Friday it is poised to impose retaliatory tariffs on $60 billion worth of U.S. imports, including coffee, honey and industrial chemicals, if Washington goes ahead with its latest trade threat.

China’s Finance Ministry accused the Trump administration of damaging the global economy after the U.S. proposed increasing duties on $200 billion of Chinese goods in the second round of a dispute over technology.

“China is forced to take countermeasures,” said a ministry statement. It said retaliatory duties of between 5 and 25 percent will be imposed on 5,207 products “if the U.S. side persists in putting its tariff measures into effect.”

Washington imposed 25 percent duties on $34 billion of Chinese goods on July 6 in response to complaints Beijing steals or pressures companies to hand over technology. Beijing retaliated by imposing similar charges on the same amount of U.S. products.

White House press secretary Sarah Huckabee Sanders told reporters Friday that “instead of retaliating, China should address longstanding concerns about its unfair trading practices.”

A Chinese foreign ministry spokesman had earlier called on Washington to “come to its senses” and settle the dispute.

Chinese leaders have offered to narrow their politically sensitive trade surplus with the United States by purchasing more American goods. But they have rejected changing technology development plans they see as a path to prosperity and global influence.

There’s no end in sight, and the dispute could chill global trade and economic growth.

China’s new threat targeting a smaller amount of U.S. goods reflects the fact that Beijing is running out of products for retaliation because of its lopsided trade balance with the United States.