HVAC products could become collateral damage as the White House and China escalate trade war fears.
Chinese-made parts for air conditioners, compressors, furnaces and ventilation equipment are among those on a list of 1,300 products that the White House is proposing to slap with a 25 percent tariff. The list was released Tuesday.
China responded with its own plan to levy new taxes on $50 billion in U.S. goods including corn, soybeans, beef, tobacco and automobiles.
While the administration has said it does want a trade war, there are few signs of a truce anytime soon. On Thursday, President Donald Trump said he was ordering the Office of the United States Trade Representative, which advises on international commerce policy, to compile a list of products the U.S. could hit with another $100 billion in taxes.
“China’s illicit trade practices − ignored for years by Washington − have destroyed thousands of American factories and millions of American jobs,” Trump said in a statement.
Chinese Foreign Ministry spokesman Lu Kang said China is ready to retaliate if the U.S. enacts new tariffs.
“We will take proportionate measures of the same intensity and scale on U.S. products,” he said. “These measures will be announced soon. We have the confidence and capability to counter any measure of trade protectionism taken by the United States.”