Donald Trump's many trade wars

Donald Trump's many trade wars

Donald Trump's many trade wars

The trade confrontation between Washington and Beijing has been escalating for months, despite Trump's repeated statements that he has a good relationship with China's President Xi Jinping. China imported only $130 billion in goods from the US a year ago but could retaliate through other means including regulatory moves and investigations of USA companies.

The abrupt escalation is "totally unacceptable", the Chinese commerce ministry said.

By expanding the list, the administration is beginning to hit products that US households buy, including such things as electric lamps and fish sticks.

More than 6,000 items could be affected - including burglar alarms, auto tyres, handbags, baseball gloves, carpets, toilet paper, dog food, and hundreds of food products.

"For over a year, the Trump Administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition", Lighthizer said.

Financial markets could take a harder fall if China retaliates to the latest volley of US tariffs, as Beijing has vowed, according to research firm Capital Economics.

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"The Chinese side is shocked by the actions of the U.S.", a statement on the ministry's website declared.

"The action came just days after Washington levied punitive duties on $34 billion worth of Chinese products, and Beijing vowed to retaliate with equivalent tariffs on American goods".

The proposed new US tariffs follow the decision to impose duties in two stages on $50 billion in Chinese goods.

U.S. president Donald Trump has threatened higher tariffs on more than 500 billion dollars (£377 billion) of goods, or almost all of China's annual exports to the United States.

A possible second round of tariff hikes announced on Tuesday by the US Trade Representative targets a 200 billion dollar (£150 billion) list of Chinese goods.

John Connelly, president of the National Fisheries Institute, the United States seafood industry's most influential trade group, is calling on USA president Donald Trump and China to pick up a children's book and end their trade dispute.

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'TARIFFS ARE TAXES' Senate Finance Committee Chairman Orrin Hatch, a senior member of Trump's Republican Party, said the announcement "appears reckless and is not a targeted approach".

A leaked propaganda document earlier this year issued similar directives, telling media not to "attack Trump's vulgarity; don't make this a war of insults". But with only $130 billion in goods coming in from America, the Chinese wouldn't even be able to match the $200 billion figure, much less anything above that. In the long run, he said, it could be a good thing for the US if they are able to come to an agreement.

The Retail Industry Leaders Association said new tariffs on Chinese imports would punish American families by driving up prices.

Opponents have been quick to voice their dissent with Trump's decision to escalate the already white-hot trade dispute between the United States and China.

Bob Corker (R-Tenn.) said before what he called a "test vote" to see how willing Congress might be to push back against Trump's use of a law that gives him broad authority to impose tariffs in an effort to protect national security.

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