US President Donald Trump approves $50 billion tariff on Chinese goods

US Secretary of State Mike Pompeo and his Chinese counterpart Wang Yi traded barbs on trade and China's territorial claims Thursday just as the two seek cooperation on resolving the North Korean nuclear issue

US Secretary of State Mike Pompeo and his Chinese counterpart Wang Yi traded barbs on trade and China's territorial claims Thursday just as the two seek cooperation on resolving the North Korean nuclear issue

China vowed on Friday to strike back quickly if the United States hurts its interests, hours before U.S. President Donald Trump was due to unveil revisions to a tariff list targeting $50 billion worth of Chinese goods.

As Trump prepares to impose the new tariffs on China, there is already evidence that his program is having a negative impact on some areas of industry and agriculture in Europe. "It is also about values, governance and geopolitical disagreements", she said.

But his plan to crack down on China has drawn wider support.

The tariffs will target technology industries where China hopes to become a world leader, after an investigation uncovered rampant intellectual property theft by Chinese companies against U.S. firms.

Although the import levies affect less than 10 percent of the $505 billion in Chinese goods that Americans buy each year, Trump's new trade barriers mark a historic change after three decades of deepening ties between the world's two largest economies.

"If the USA side adopts unilateral protectionist measures and damages China's interests, we will immediately react and take necessary measures to firmly safeguard our legitimate rights and interests", said foreign ministry spokesman Geng Shuang during a regular news briefing.

DeLauro said the Trump Commerce Department's disorderly implementation of trade enforcement tools failed to inspire confidence in the President's ability to appropriately hold the trading partners accountable.

"I stressed how important it is for President Trump to rectify that situation so that trade becomes more balanced, more reciprocal and more fair, with the opportunity to have American workers be treated fairly", Pompeo said Thursday during a joint news conference with Foreign Minister Wang Yi.

Yang Jiechi, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, who is also director of the Office of the Foreign Affairs Commission of the CPC Central Committee, meets with U.S. Secretary of State Mike Pompeo in Beijing, capital of China, June 14, 2018.

Gerard Pique wishes Antoine Griezmann success after Barca snub
Griezmann joined Atletico from Real Sociedad in 2014 and has scored 112 goals in all competitions for the club. He also posted a video on Twitter with the captain, "My fans, my team, my home".

The move is likely to attract retaliatory action by China.

Wall Street has viewed the escalating trade tensions with wariness, fearful that they could strangle the economic growth achieved during Trump's watch and undermine the benefits of the tax cuts he signed into law past year.

China and other nations should join together to counter Trump's aggressive trade policies, the state-run China Daily said on Friday, repeating past threats to retaliate in kind.

"If you end up with a tariff battle, you will end up with price inflation, and you could end up with consumer debt, ' Gary Cohn, Trump's former top economic adviser, said. His fundamental commitment to the "deplorables" on the campaign trail was that he was going to bring manufacturing jobs back, particularly from Asia".

The Trump administration is expected to release a list of upward of 1,300 technology products imported from China that could get hit by a 25 percent tariff.

The trade representative office has held public hearings on the list of 1,300 categories of products to see whether duties on any of the goods would unduly harm US consumers and businesses.

But this time, He said, the inconsistency of the USA administration could mean several rounds of small-scale retaliation and talks.

China has pledged any tariffs will void progress made in recent trade talks between Beijing and Washington and has drawn up its own list of $50 billion in United States goods to target.

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