Trump threatens new tariffs on Chinese imports, Beijing calls it 'blackmail'

China and US trade talks

The contribution of the Chinese factories in this process is estimated to be only 3.6% of the shipping price, yet USA trade statistics attribute 100% of the value of imported iPhones to China and so hugely overstate the size of the U.S. Saudi Arabia and Russian Federation are seeking to raise production by 1.5 million barrels per day, but they may not get their way, experts say.

Goldman Sachs said it expected China to adopt a slightly easier monetary stance in the face of tit-for-tat tariffs between Beijing and Washington that, while likely to have limited immediate impact on the economy, were at risk of escalating.

Given the imbalance in American and Chinese trade, Beijing has a more limited set of options for adding to its list of tariffs. Thus, for example, China is presumably withdrawing its commitment to strengthen cooperation between the two countries in the agriculture and energy sectors, including reportedly an offer to purchase $70 billion worth of USA agricultural and energy products and other goods. Russian Federation has calculated the damage of its proposed tariffs to be about $537.6 million, while Oreshkin said Tuesday that the first stage of tariffs against the US would amount to about $93 million.

Comments from top officials in the Trump administration suggest the trade tensions will not dissipate anytime soon. And Beijing says it would impose tariffs on $16 billion more if the United States does so, too.

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Most are food and other farm goods, hitting Trump's rural supporters hardest. On Friday, following implementation of tariffs by Washington, Beijing approved rates of 25% for 659 types of American agricultural products-soybean, maize, rice, beef or pork, among many ors-for same amount, 50 billion dollars. The US products subject to tariffs in China will be mainly within agriculture, seafood and autos. It said a decision would be announced later.

"[They would take effect] if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced", he said.

The White House has accused China of forcing US companies to share advanced technology with Chinese partners as a condition of doing business there.

He also stressed that the White House's broader plan to curtail President Xi Jinping's high-tech "Made in China 2025" policy could only be achieved after a long and bitter trade war. "Beijing has a freer hand for informal retaliation, which will now start to increase".

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Smaller, more USA focused stocks were doing better than more internationally-focused US stocks, said Mokhtari.

Companies also are watching the fate of ZTE Corp. So it remains an open question whether Apple's charm offensive on the White House got the iPhone company special treatment from the Trump administration. That included 36 percent in aerospace and 27 percent in autos - both industries cited in Chinese plans to develop global competitors. The next step will be for the Office of the U.S. Trade Representative to identify the Chinese goods to be penalized and to conduct a legal review.

Tariffs are already raising costs for some goods.

Trump has been taking potshots at Prime Minister Justin Trudeau and Canada since the end of the G7 summit earlier this month after the prime minister said at a press conference that he told the USA president that his steel and aluminum tariffs were "kind of insulting", and that Canada "will not be pushed around" and that it would not hesitate to impose retaliatory measures.

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