U.S. imposes new $200 billion tariffs on China

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

"China is forced to respond to USA unilateralism and trade protectionism, and has no choice but to respond with its own tariffs", the Finance Ministry said in a statement on its website late on Tuesday.

A Commerce Ministry statement earlier said Trump's increase "brings new uncertainty to the consultations" but there was no word on whether Beijing would back out of talks proposed last week by Washington.

"It is hoped that the USA will recognise the possible negative consequences of such actions and take convincing means to correct them in a timely manner", the ministry said, without directly addressing if the talks would go forward.

China announced it will take retaliatory tariff action against US$60 billion of USA goods, sharply escalating the trade war as the Trump administration considers imposing duties on virtually all Chinese imports.

The good news was that officials changed the list of items affected by tariffs on goods imported from China to exclude smartwatches and other Bluetooth devices.

"Ten percent isn't much, it's really just a warning shot", University of Maryland economist Peter Morici said during an interview on FOX Business' "Mornings with Maria" of the Trump administration's latest tariffs. And China has retaliated in kind, hitting American soybeans, among other goods, in a shot at the president's supporters in the US farm belt.

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China will impose a 10 percent tariff on USA products it previously designated for a rate of 20 and 25 percent. China has also filed a complaint with the World Trade Organization over the US tariffs.

"President Trump is a hard-hitting businessman, and he tries to put pressure on China so he can get concessions from our negotiations".

"They also know that I am the one that knows how to stop it", Trump said in a Tweet.

The new measures will take effect on September 24 to coincide with the date the United States will begin collecting the tariffs announced on Monday.

The president had warned in a statement on Monday evening that such action would take the form of tariffs on the remaining US$267 billion of Chinese imports, further expanding the already unprecedented scope of the trade war. China has retaliated in kind.

US President Donald Trump continues to pursue an aggressive economic policy towards Asian powerhouse China.

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The Wall Street Journal reported that Beijing was considering sending Vice Commerce Minister Wang Shouwen to trade talks this month but not Vice Premier Liu He, a senior official who is close to China's president. "We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly", he said. "But, so far, China has been unwilling to change its practices". Then last month, the escalating trade war moved up a gear when the United States brought in a 25% tax on a second wave of goods worth $16bn.

The Office of the US Trade Representative charged in a March report that China is using predatory tactics to obtain foreign technology, including hacking US companies to steal their trade secrets and forcing them to turn over their know-how in exchange for access to the Chinese market.

In recent months, Washington and Beijing imposed 25 percent tariffs on $34 billion worth of goods headed across each other's borders. "Once again, I urge China's leaders to take swift action to end their country's unfair trade practices".

China's yuan currency slipped 0.3 per cent against the USA dollar in Asian tratode on Tuesday.

But the adjustments did little to appease technology and retail groups who argued United States consumers would feel the pain.

Mr Trump's economic adviser, Larry Kudlow, earlier said they were still happy to talk: "We are ready to negotiate and talk with China anytime they are ready for serious and substantive negotiations", he said.

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