US, China may pursue talks over trade differences -USTR official

US Tariff List Aims at Technology China Wants to Dominate

"The date of implementation will depend on when the United States government imposes the tariffs on Chinese products", it said.

But the impending trade war between the Trump administration and China has been building up for nearly a year.

Earlier, China, the second largest trade partner of the USA, had announced levies on 128 American products after Washington had announced import duties on Chinese steel and aluminum last month. While Trump's administration said the list accounts for some US$50 billion of goods, numerous industrial items targeted are so specialized that U.S. manufacturers may have little choice but to pay the premium, said Michael McCool, Hong Kong-based managing director of consultancy AlixPartners.

Investors are wondering whether one of the worst trade disputes in many years could now turn into a full-scale trade war between the world's two economic superpowers.

President Donald Trump says the US lost a trade war with China "years ago".

Jim Boyce, a Beijing-based wine consultant who writes the blog Grapewallofchina, said while there were concerns that the duties would make US wine less cost-competitive, the greater worry was over the image the trade war would generate for USA goods. He asks US Trade Representative Robert Lighthizer to look into unfair China's trade practices, with a particular focus on alleged Chinese theft of US intellectual property.

"It must be said, we have been forced into taking this action", a deputy commerce minister, Wang Shouwen, said at a news conference.

It's a long-standing issue that U.S. business executives and government officials have complained about, including practices like pressuring companies to hand over trade secrets in exchange for access to China's huge markets. Chinese officials did not set a date for implementation, saying what happens next will depend on whether the USA president pushes ahead with his tariff plans. Online retailer Amazon gave up $26.17, or 1.8 percent, to $1,365.88. The economies of China and the U.S. are highly complementary, and "cooperation is the only right choice for the two countries", the MOC said.

Tariff tensions: Beijing and Washington detailed plans to hike tariffs on a broad swath of imported goods from each other, in a series of rapid fire announcements over less than 24 hours. The Chinese automaker last month met with United States auto dealers in Las Vegas as it plots out bringing the GS8, a seven-passenger sport utility vehicle with voice-activated windshield wipers, to American shores.

Intel Unveils First Ever Core i9 Processor For Laptops
The company also announced that new laptops with Intel's 8th Gen Core i9, i7 and i5 chips will be coming later this year. This simply means a mobile or desktop system includes the combination of an Intel Core processor and Optane memory.

Tech stocks have added to the recent volatility, mostly due to controversies surrounding technology companies like Facebook.

United States chemicals, some types of aircraft and corn products are among the goods facing the taxes, the finance ministry said.

The tariff list targeted products that benefit from China's industrial policies, including its "Made in China 2025" program, which aims to replace advanced technology imports with domestic products in strategic industries, such as advanced information technology, robotics, and pharmaceuticals.

Many products in those segments appear on the list, including antibiotics and industrial robots and aircraft parts.

US business groups reacted cautiously, saying they agreed with Trump's efforts to stop the theft of USA intellectual property, but questioning whether tariffs were the right approach. Regulators could withhold licenses or alter other conditions to hamper foreign business activity. Figures from the U.S. Commerce Department put last year's trade gap with the Asian nation at $337 billion.

USA trade policy has loomed over the markets since early March.

Porter said that FireEye, which monitors more than two-dozen groups linked to the Chinese government, has observed espionage activity continue against USA firms, including those producing sensitive military technology like satellite navigation systems and semiconductors.

The effects were also felt on Wall Street.

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