China says it will retaliate on any USA tariffs

Trump will impose tariffs on $50 billion of Chinese goods, prepared to retaliate if needed

Trump will impose tariffs on $50 billion of Chinese goods, prepared to retaliate if needed

As he made the USA tariffs official, Trump said that "if China engages in retaliatory measures, such as imposing new tariffs on United States goods, services, or agricultural products", his administration would impose new tariffs in response.

"What we're seeing here is a bargaining process in which the Trump team has found that by continuing to put pressure on China, the offers have become better and better", said Dennis Wilder, head of a Georgetown University program on US-China relations. Trump's "America First" policy is against every nation, but it includes a tech arms race against China, and China will respond by trying to build ties with other nations, and buying technology from wherever it can, she said.

Beijing said Friday it will fight back with tariffs of its own.

As the Financial Times have reported "EU officials said that national diplomats gave unanimous backing to the list of U.S. products to be targeted at a meeting in Brussels on Thursday".

Both American lists are targeting industries crucial to China's "Made in China 2025" initiative.

The current White House accuses China of unfair trade practices, including acquisition of American intellectual property and technology, which has allowed it to make that difference. "China is a powerful guardian and has enough ammunition to defend existing trade rules and fairness".

U.S. customs agents will begin collecting the duties on July 6, the administration said.

Trump's tariffs did gain some support from an unlikely source, U.S. Senate Democratic leader Charles Schumer, who called them "right on target". Economists expect the direct impact on the US economy to be modest. Products on this final list could be subject to additional duties. It said a decision would be announced later.

According to Bloomberg sources, President Donald Trump has approved placing tariffs on Dollars 50 billion worth of Chinese exports, and an official announcement is expected on Friday.

'Rising Kashmir' editor shot dead in India-Occupied Kashmir
BJP's Ram Madhav said, "Shocked to hear about d attack on d Editor-in-Chief of Rising Kashmir Shujaat Bukhari in Srinagar ". Most Kashmiris support the rebel cause while also participating in civilian street protests against Indian control.

If U.S. industrial sales to China are curtailed, investors worry this would indirectly hurt demand for steel and other materials used in products, such as agricultural machinery, O'Rourke said.

Analysts say the tariffs that Washington is preparing are a pittance when compared to the size of the world's two largest economies - limiting their power to bend Beijing to Trump's will. "Beijing has a freer hand for informal retaliation, which will now start to increase".

The European Union and Canada have said they will enact retaliatory tariffs starting in July.

The administration is also working on proposed Chinese investment restrictions by June 30.

ZTE last week agreed to pay a $1 billion fine to the US government to end a crippling supplier ban imposed after it broke an agreement to discipline executives who conspired to evade USA sanctions on Iran and North Korea.

While calling Trump's administration "inconsistent and precarious", it expressed hope a trade war might yet be averted. They say those violate Chinese market-opening commitments under the World Trade Organization.

The ministry says it's also scrapping deals to narrow Beijing's multibillion-dollar trade surplus with the U.S.by purchasing more American farm goods, natural gas and other products. China "has noticed the US statement" and "reserves its rights to take corresponding measures", a government official said, according to Xinhua.

The Trump administration's measures to impose new tariffs and restrict imports are likely to "move the globe further away from an open, fair and rules-based trade system, with adverse effects for both the USA economy and for trading partners", the International Monetary Fund (IMF) said in a report on Thursday. And the Chinese government warned then it wouldn't honor its pledge to increase purchases of U.S. goods if tariffs were imposed.

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