US duties spare Apple gadgets, but hit cloud industry

Donald Trump

Mr Trump warned, in a statement, that if China takes retaliatory action against United States farmers or industries, "we will immediately pursue phase three, which is tariffs on approximately $US267 billion of additional imports".

Mr Trump had said on Twitter that "China has openly stated that they are actively trying to impact and change our election by attacking our farmers, ranchers and industrial workers due to their loyalty to me". Instead, China responded to the United States tariff action by taking further steps to harm US workers and businesses.

Earlier Monday, Trump praised his aggressive trade policy that has also damaged ties with Canada, Mexico, Asian allies and the European Union. 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.

Once the new round of tariffs takes effect on September 24, punitive duties will be in place on $250 billion in goods the U.S. buys from China - its largest source of imports.

In essence, this is a cold war on trade, with both the US and China aware that a reduction in trade flows poses mutually assured destruction of their economies-or MAD, as the policy was abbreviated during the actual Cold War. "China will adopt countermeasures to safeguard its legitimate rights and interests and the global free trade order".

"The United States insists on increasing tariffs, bringing new uncertainties to bilateral trade negotiations".

The tariffs exclude 300 items that could have been subject to tariffs, including smartphones, bike helmets, infant vehicle seats and certain chemicals. However, should China retaliate - Bloomberg headlines suggest there will be retaliatory tariffs launched simultaneously - then all Chinese imports into the United States will face tariffs. The U.S. -China trade war will last not for 20 months or 20 days, but "maybe 20 years", he said.

Beijing will be forced to retaliate if the USA rolls out new tariffs against the country, ministry spokesman Geng Shuang was cited by Huanqiu.com as saying. -China trade tensions. An analyst at Moor Insights & Strategy told the Wall Street Journal that retaliatory moves by China "could be fairly devastating" in the long term if China restricts sales of manufacturing parts to USA companies. "I think that kind of tactic is not going to work with China", Fang Xinghai, vice chairman of China's securities regulator, said at a conference in the port city of Tianjin.

PGA Tour needs to reconsider wild 2019 FedEx Cup format change
Tiger Woods , now 20th in the FedEx Cup standings, would start the tournament eight shots behind at 2-under par. For how much pride we take in our wins, I think that that's something that's going to be a little different.

This will allow U.S. companies some time to adjust their supply chains to alternate countries, a senior administration official said.

US President Donald Trump said a day earlier he will impose 10 percent tariffs on about $200bn worth of Chinese products.

In a combative series of tweets Trump, whose Republicans fear losing control of both houses of Congress in November, accused China of trying to broaden its retaliation into the electoral arena. China's Ministry of Commerce said on Tuesday that it had filed a complaint with the WTO following Washington's latest tariff action.

In May, in fact, it looked briefly as if Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He had brokered a truce built around Chinese promises to buy enough American farm products and liquefied natural gas to put a dent in the trade deficit.

"Once again, I urge China's leaders to take swift action to end their country's unfair trade practices", Trump said. Apple Chief Executive Tim Cook had dinner with US President Donald Trump last month, though neither gave details of discussions.

The Trump administration announced the tariffs on some 5,000 Chinese-made goods will start at 10 percent, beginning Monday.

These items were on the proposed list. of added duties on Chinese imports announced by the United States Trade Representative back in July.

Consumers could soon feel the impact, he added.

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