World shares slide after US-China trade dispute escalates

If the conflict occurred only between the US and China Việt Nam would have a good chance to export to the US

President Donald Trump on Wednesday said the USA was "not in a trade war with China" because such a war had already been lost by past U.S. leaders. China's tariffs amount to about 0.3 percentage point of USA gross domestic product, "so it's hardly a life threatening activity", he said.

The US kicked off this round of the fight Tuesday when the Office of the US Trade Representative announced tariffs on 128 Chinese goods, particularly in emerging technology, transportation, and machinery.

China plans to immediately bring relevant USA practice to the dispute settlement body of the WTO, and is ready to take countermeasures on US products with equal force and scale that will be published in the coming days.

The prospect of Beijing targeting soybeans was the topic of so much speculation because there's so much at stake for both sides in a trade that was worth about $14 billion a year ago.

It's a strategy that might just work.

The step came in retaliation to the 25 percent tariff on over 1,300 Chinese products introduced by the Trump administration earlier this week.

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Aircraft maker Boeing Co BA.N closed down 1 percent, weighing the most on the Dow Jones Industrial Average .DJI as documents from China's Ministry of Commerce and the US manufacturer showed the move would affect some older Boeing narrowbody models.

China gobbles up about 60 percent of globally traded soybeans to feed the world's largest livestock industry.

Trump said last month trade wars are "easy to win".

Trump has been miffed over allegations China is ripping off US products, sparking a new wave of tariffs imposed Tuesday.

Europe's stock markets slid on Tuesday as trade war fears and technology sector woes took their toll, while Wall Street managed small gains after a massive sell-off the previous day. Tariffs on imported goods mean that they become more expensive (and less competitive) in the importing nation. The U.S.is the second-largest supplier of soybeans to China, after Brazil, and soybean farmers past year sent $14 billion worth of the crop to China.

China is a relatively insignificant supplier of steel and aluminum to the United States.

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Beijing has said it would place 25 per cent trade tariffs on 106 USA goods, including soybeans, cars and orange juice.

Investors also worry President Donald Trump's protectionist policy will lead to further reciprocal tariffs by China, undermining global economic growth.

According to The Street, "China is Boeing's biggest export market and the 737 is its biggest selling product".

Investors are hoping Trump's execution of the China tariffs mirrors his handling of steel and aluminium tariffs, which were announced with harsh rhetoric but later watered down with exemptions.

A trade war may hamper demand for U.S. assets at a time when there is a growing deficit and a vulnerable dollar in the event of a downturn in USA debt.

Last month, Chinese ambassador to Washington, Cui Tiankai, said, "We do not want a trade war with the United States or with anybody else, but we are not afraid of it".

10 dead in Indore as hotel collapses
Over two-dozen people were feared trapped in the debris of a four-storey hotel that collapsed near Sarwate Bus Stand in Indore . He said the civic body was trying to find out as to how much illegal construction had been done in the premises by its owner.

Airplane manufacturer Boeing slumped more than 6% in premarket trading, while carmaker General Motors and the price of soybeans fell close to 4% each.

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