China vows ‘firm and forceful’ counter-measures against United States tariffs

Trump Announces New Taxes on TVs and Air Conditioners

Now consumers are in the cross-hairs. They are trying to make up for the loss of US and European sales following higher tariffs imposed over complaints they sell at improperly low prices.

The US administration late on Tuesday released a huge list of new tariffs on $200 billion worth of goods from China.

U.S. President Donald Trump has said he may ultimately impose tariffs on more than $500 billion worth of Chinese goods, roughly the total amount of U.S. imports from China previous year.

On Friday, the United States and China put 25 percent taxes on $34 billion in imports.

The tariffs will not be imposed until after a two-month period of public comment on the proposed list, but some USA business groups and senior lawmakers were quick to criticize the move.

"The markets still remain sensitive to the trade-related theme, which is something investors have to take into account for the long term", said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management in Tokyo. They will be added to the $34 billion worth of duties that came into effect on July 6.

The number of companies that felt policies had worsened for foreign firms fell to 23 percent from 33 percent, although 60 percent of respondents felt China's regulatory environment lacked transparency, on par with previous year.

But Tuesday's list includes food and agricultural products, handbags, hats and furniture - a group of items that, by themselves, account for almost one-quarter of the $200 billion in Chinese goods that would be subject to the new proposed tariffs, according to data compiled by trade research firm Panjiva. That response would probably include measures other than tariffs.

Solar exporter Jiangsu Akcome Science & Technology Co. makes about 15 percent of its sales to the United States, while Japan and South Korea are 25 to 30 percent, its general manager, Hu Jingnang, told the newspaper Wuxi Daily.

Even if the Trump administration doesn't follow through on that threat, more individuals could be affected over time by the tariffs that kicked in last week.

Trump hails Boris Johnson as future PM and attacks Sadiq Khan
The pair will then travel to Chequers - the PM's country residence in Buckinghamshire - for talks with the foreign secretary. Trump also blamed recent terrorist attacks there on Khan, who is a Muslim.

In an April Twitter post, Trump said this allowed China to "get tremendous perks and advantages, especially over the US". China has vowed to impose tariffs up to that same amount as well.

The economic impact of the conflict already is spreading. Nor have there been noticeable political consequences, though some Republican senators have sharply criticized the administration's embrace of tariffs. US indexes are set to open lower after a stretch of gains. No high-level talks are being held, and none have been scheduled.

Though the trade conflict remains front and center in the minds of investors, another factor at play is the nagging worry that Trump may want to pull the USA out of the North Atlantic Treaty Organization - a move that would represent a fundamental upheaval in the global order and would surely affect markets.

The United States buys about 20 percent of China's overall exports, but trade has shrunk as a share of the Chinese economy.

Still, the indirect effects could be greater, he said. And the stock market could retreat, thereby reducing Americans' wealth and ability to spend.

Harborn said a European supplier of environmental technology believed it might have been awarded a Chinese government contract ahead of an American competitor due to its non-U.S. status. "The U.S. side ignored the progress, adopted unilateral and protectionist measures, and started the trade war".

The survey showed 53 percent of companies increased investment in 2017, down from 55 percent the year before, highlighting a trend of reduced investment growth since a 2012 peak, when 74 percent of respondents said they had boosted investment in China.

"In part because they have only limited ammunition and in part because it's still early in the process on the USA side", Kuijs said. In January, the Trump administration imposed tariffs on foreign-made washing machines, which are sold by Home Depot.

He said that cost increases from tariffs are normally passed through to consumers - but not always directly.

These wouldn't be the first tariffs to affect the company. Holmes said the tariffs so far haven't reduced demand.

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