Trump's new tariff policy on Chinese goods sparks fear of trade war

US-China trade battle Catch up here

In his own tweet on Sunday, Trump said he and Chinese President Xi Jinping would consistently befriends despite the dispute, " including: "China will take down its transaction barriers because it is the ideal issue to really do.

The additionally tariffs were now being contemplated "in mild of China's unfair retaliation" against sooner US transaction activities, that contained an estimated $50 billion of tariffs on Chinese goods, Trump said in a White House announcement on Thursday.

A deal addressing China's theft of USA intellectual property is also expected to be made. "Great future for both countries!"

China has denied American accusations of unfair trade practices and vowed to retaliate if the USA follows through on plans to put tariffs on Chinese goods, claims that have roiled global markets over fears that prices will rise and demand will slow worldwide. In office he has made overtures to Xi and pressed China for help with derailing North Korea's nuclear ambitions.

The two countries have threatened each other with tens of billions of dollars' worth of tariffs in recent days and Chinese officials have said this is not the time for negotiations.

Citing State Intellectual Property Office senior official Zhang Zhicheng, Xinhua said the US' accusations over technology transfers, IP and innovation were groundless and the tariffs would damage the USA economy as well as that of the wider world.

"We're talking about a lot of money that goes down, just on the speculation of having a tariff put in place", Rounds said on "Meet the Press". Earlier in the week, Trump threatened to introduce tariffs against China worth up to $150 billion annually.

Judge sets Conor McGregor's at $50K after UFC bus attack
Ray Borg's flyweight bout also was canceled because Borg suffered multiple corneal abrasions, the UFC said. "It's disgusting. McGregor's attorney, Jim Walden, asked the judge to allow his client to travel and "pursue his craft".

YouTube shooter purchased gun at San Diego dealer
Additionally, her father, Ismail Aghdam , called Mountain View police and warned them that the shooter may be headed for YouTube . San Bruno police say she practiced shooting at a local gun range on Tuesday before driving to YouTube headquarters.

Magnitude 6 quake hits Mindanao areas
A strong natural disaster struck the Channel Islands region on Thursday afternoon and rattled much of Southern California. According to the Philippine Institute of Volcanology and Seismology (Phivolcs), the natural disaster hit at 11:53 a.m.

Larry Kudlow, the new director of the National Economic Council, said the tariff threats are part of a negotiating tactic created to pressure China to end unfair trade practices. He also said that though the USA hoped to avoid taking action, Trump "was not bluffing".

Larry Kudlow, Trump's new top economic advisor, has expressed interest in negotiating with the Chinese as the tariffs are all still proposals and nothing is official.

But he also downplayed the tariff threat as "part of the process", suggested on CNN that the impact would be "benign" and said he was hopeful that China would enter negotiations. They would receive a 25% duty increase, mirroring Trump's 25% tariff hike for steel. In a separate interview on "Fox News Sunday", Kudlow acknowledged "jitters" but insisted "we're not gonna to end up in a trade war".

But another top White House economic adviser, Peter Navarro, took a tougher tack, declaring China's behavior "a wake-up call to Americans". "We're moving forward on a measured way with tariffs, with investment restrictions", Navarro added. "Every day of the week China comes into our homes, our business and our government agencies. This country is losing its strength even as China has grown its economy".

Trump has also said the ongoing trade dispute may generate "a little pain" in the short term, including big losses on Wall Street. In turn, the Chinese Commerce Ministry imposed new import tariffs on 128 USA products.

USA authorities also are investigating whether Beijing improperly compels foreign companies to hand over technology in exchange for market access, which could lead to still more trade penalties.

Further escalation could be in the offing.

Related news:

Hot News

isis-killer-beheading-video-story-top Chadwick Boseman Brings Black Panther to 'Black Jeopardy' on 'SNL'
Apr 09, 2018 - 04:47
Eventually Boseman's T'Challa gets the hang of it when offering an answer under the "White People" category. Usually the recurring sketch has white guest hosts bumbling through questions alongside black contestants.

isis-killer-beheading-video-story-top Gary Sanchez (calf) not in Yankees' lineup on Saturday
Apr 08, 2018 - 07:24
CC Sabathia went four innings, giving up three runs on four hits while striking out three, not factoring in the decision. Braves 8, Rockies 3: Brandon McCarthy used his arm and bat to help Atlanta win at Coors Field in Colorado's home opener.

isis-killer-beheading-video-story-top Facebook tightens issue ads, political ads to prevent election interference
Apr 08, 2018 - 07:15
Facebook is working to strengthen its system ahead of this year's USA midterm elections and other elections around the world. Facebook Indonesia Head of Public Policy Ruben Hattari says they will keep cooperating with the Indonesian government.

isis-killer-beheading-video-story-top Sergei Skripal's dead cat and guinea pigs were 'important witnesses'
Apr 08, 2018 - 07:02
Later, London claimed that the toxin of Novichok-class had been allegedly developed in Russian Federation . The hospital did not say whether either Sergei or Yulia would suffer long-term effects.

isis-killer-beheading-video-story-top Commonwealth Games Gold Coast, live updates
Apr 08, 2018 - 06:40
Kelly Simm has helped England to silver in the women's team gymnastics competition at the Commonwealth games . Indian weightlifters have claimed two gold and a silver thus far in this edition of the Games.

isis-killer-beheading-video-story-top Stock Showing Surging Activity: Facebook, Inc. (NASDAQ:FB)
Apr 08, 2018 - 06:24
The rating was upgraded by BTIG Research to "Buy" on Tuesday, March 21. (NASDAQ:FB) has "Buy" rating given by RBC Capital Markets. Aspen Investment Management Inc boosted its position in shares of Facebook by 0.4% during the second quarter. (NASDAQ:FB).

isis-killer-beheading-video-story-top Spieth content with round-two fightback at Augusta
Apr 08, 2018 - 05:58
Patrick Reed took a two-shot lead Friday at the Masters after firing the low round of the day to get to 9-under par. It's such a hard golf course to play catch up on. "My practice sessions have been really, really good", he added.

isis-killer-beheading-video-story-top Fort Campbell soldiers killed in Apache crash
Apr 08, 2018 - 05:46
The US Army says a military helicopter crash killed two troops at the Fort Campbell training grounds in Kentucky late Friday. Todd Royar, the deputy commanding general of the 101st Airborne Division, was quoted as saying in the statement.

isis-killer-beheading-video-story-top Sensex, Nifty open in green ahead of monetary policy announcement
Apr 07, 2018 - 05:31
The Nasdaq jumped 1.45% to end at 7,042 and the S&P 500 rose 1.16% to close at 2,645. -China trade war concerns. In Europe, Frankfurt's DAX fell 0.65 per cent and Paris CAC shed 0.51 per cent in their late morning session.

isis-killer-beheading-video-story-top Sen. Shaheen: EPA chief Scott Pruitt should resign
Apr 07, 2018 - 05:26
Press secretary Sarah Sanders told CNN Thursday the White House does "not have any plans for personnel changes at this time". However, DeGette sent a letter of her own Thursday to the EPA watchdog to investigate the scandals swirling around Pruitt.

isis-killer-beheading-video-story-top Plans For Luxury Space Hotel Unveiled
Apr 07, 2018 - 05:00
Branson originally said flights would begin in 2009, but an official date has yet to be set for its maiden voyage. Orion Span's technology enables us to bring down the cost of visiting and living in space by orders of magnitude.

isis-killer-beheading-video-story-top West Bengal BJP To Approach Supreme Court For Free, Fair Panchayat Polls
Apr 07, 2018 - 05:00
The Opposition has become one, irrespective of the diktats of their respective leaders, to fight the Trinamool. Already unofficial alliances have been formed in Rampurhat and Mayureswar in Birbhum district.

isis-killer-beheading-video-story-top Tim Tebow homers on first pitch in Double-A debut
Apr 07, 2018 - 04:41
Tebow delivered the biggest hit of the game. "But from the first time I saw him to this spring he's made some nice improvements". Yes, Tebow hit.226 with a.656 OPS last season at the A level of the Mets organization, but he really struggled this spring.

isis-killer-beheading-video-story-top USA fighter Iaquinta to challenge Russia's Nurmagomedov for UFC lightweight belt
Apr 07, 2018 - 04:29
Iaquinta has also won his last five fights in a row and he's now ranked in the top 15 in the lightweight division. The changes could mean that the main event of UFC 223 will feature two completely new fighters.

isis-killer-beheading-video-story-top Champions League: That goal, I didn't expect to score that goal - Ronaldo
Apr 06, 2018 - 01:21
It came at a time when Juventus were dominating the ball in the second half and had put the Real defence under a lot of pressure. Even coach Zinedine Zidane who is a master of scoring jaw-dropping goals, could not believe his eyes.