Trump threatens additional tariffs on $200 billion of Chinese goods

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As tensions continue to escalate between the United States and China over a US plan to tax $50 billion in Chinese products, Apple is concerned that China's government will create regulatory and shipping hurdles for its products, The New York Times reports today.

"This latest action by China clearly indicates its determination to keep the United States at a permanent and unfair disadvantage", Trump said.

China's commerce ministry immediately responded by saying the usa "practice of extreme pressure and blackmail departed from the consensus reached by both sides during multiple negotiations and has also greatly disappointed global society".

"If the United States side becomes irrational and issues the list, China will have to adopt comprehensive measures in quantity and quality in order to make strong countermeasures", the statement said.

"The United States has initiated a trade war and violated market regulations, and is harming the interests of not just the people of China and the USA, but of the world", the ministry said in a statement.

People in those swing states are taking notice. He said he would pursue additional tariffs on another $200 billion worth of goods, for a grand total of $450 billion.

China responded with a 178.6 percent tariff on all imports of sorghum to the United States.

Even with tariffs on an additional $200 billion in Chinese goods, the impact on both China's and the USA economy is set to be small, most economists say.

The move followed tariffs applied last week on Dollars 50 billion in Chinese imports to the US. "The initial tariffs that the president asked us to put in place were proportionate and responsive to forced technology transfer and intellectual property theft by the Chinese".

"Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong", he said in a statement announcing the possibility of additional tariffs.

"China doesn't want a trade war", China's foreign ministry spokesperson Lu Kang said Friday in a statement. Neither of those tariffs have gone into effect yet.

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USA lawmakers are trying to block Trump's deal with ZTE.

"China has a farily predictable pattern of responding immediately and with pretty stiff tariffs", says Ron Kirk, U.S. Trade Representative under President Obama and now a partner at the law firm Gibson, Dunn and Crutcher.

Stocks are sliding and bonds are rallying as fears mount about an escalating U.S.

"I think that the other side may have underestimated the strong resolve of President Donald J. Trump", Navarro added.

The prospect of a trade war is particularly unsafe when it comes to China, the U.S.' largest goods trading partner. That could take a long and painful trade fight.

Some of the US's biggest exporters were among those most affected.

While addressing the National Federation of Business in Washington, Trump told the crowd that Canadians are resorting to smuggling US goods to avoid tariffs.

By contrast, Palmer noted, the U.S. exported only about $130bn worth of products to China in 2017.

Both the United States and Chinese tariffs are slated to go into effect on July 6. China is following a similar schedule.

China's list, which included about a billion dollars worth of USA seafood, was a retaliation to Trump's move earlier in the day to update a list of now 1,102 items worth $50bn on which a 25% tariff would be levied. Congress scorned Trump's amnesty for ZTE; the press revealed that China hadalready been planning to increase its intake of American agriculture before negotiations with the White House had even begun; and the White House's China hawks pushed the president to chart a tougher course. Tech companies, too, felt the pinch with Apple down 1.5%.

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