Trump threatens 'retaliation' if China targets USA farmers

Trump orders new tariffs on additional USD 200 Bn worth of Chinese imports

Trump orders new tariffs on additional USD 200 Bn worth of Chinese imports

In a post on its wesbsite, China's Commerce Ministry accused the US of causing an "economic emergency" in China, and forcing China to retaliate.

"For months, we have urged China to change these unfair practices and give fair and reciprocal treatment to American companies", Trump said in a statement.

In a second statement Tuesday morning, China announced it will retaliate with tariffs ranging from 5 to 10 percent on approximately $60 billion worth of USA imports.

The United States' current unilateral trade actions can not be accepted by China, and the United States has not been honest, ministry spokesman Geng Shuang told a daily news briefing.

The new tariffs could also sidetrack trade talks in Washington, D.C., set for next week between USA and Chinese officials. "China hopes the United States would recognise the negative consequences of its actions, and take convincing steps to correct its behaviour in a timely manner".

US President Donald Trump is poised to levy punitive tariffs on all Chinese imports, following China's announcement on Tuesday that Beijing will respond to Washington's latest escalation of the trade war by imposing duties on US$60 billion of US imports.

However, senior administration officials told reporters the initial list announced in July was reduced by 300 product lines after the administration received 6,000 written comments from consumers and businesses. On The U.S. duties targeted Chinese goods Washington says have benefited from improper industrial policies.

"President Trump is a hard-hitting businessman, and he tries to put pressure on China so he can get concessions from our negotiations". He said they were created to be the least disruptive to American consumers, and they only have a minimal increase in inflation.

This pushback will also take effect on September 24.

China has already imposed retaliatory tariffs on $50 billion worth of U.S. goods in response to Washington's previous measures. Instead, we are now awaiting China's retaliation. On Wall Street stocks closed lower led by declines in Amazon and Apple amid investor fears the companies could be caught in the middle of a China US trade war. "This is lower than any other president at this stage in his presidency in the past 70 years and these latest trade protection measures could be seen as an effort to bolster his standing".

"China has had many opportunities to fully address our concerns", Mr Trump said in a statement.

But how far China is willing to go to change is uncertain. - From Harley-Davidson motorcycles and U.S. bourbon to Chinese parts and machinery, the world's two largest economies have exchanged punitive tariffs that slice through a wide swath of products.

"Under the party's strong central leadership, China has the resolve and confidence to press ahead and use deeper reforms and deeper opening up as well as the development of our domestic market to counter United States unilateralism", Li Wei said. The missive from Cupertino complained that some Apple products were included on a list of $200 billion worth of Chinese imports that could face tariffs imposed by the United States Department of Homeland Security.

"I will say right here on China, we are ready to negotiate and talk with China anytime that they are ready for serious and substantive negotiations towards free trade to reduce tariffs and non-tariff barriers".

China's yuan currency slipped against the dollar on Tuesday after news of the USA measures. Liquefied natural gas (LNG), for example, was previously under the 25 percent tariff category but now will be subject to a tariff of 10 percent.

The administration excluded smartwatches and other connected devices after Apple warned of a negative impact in a letter to the US Trade Representative.

But he said the administration should have enlisted support from other major trading partner, such as the European Union, Canada and Mexico, and presented Beijing with a united front.

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