China warns of tariffs on imported United States goods worth $60bn

The Bank of England said on Thursday protectionist trade policies were beginning to have an adverse impact, most notably on indicators of global goods trade.

The two countries have already imposed about $34 billion worth of tariffs on each other.

But amid that pushback is often the key caveat that Trump might sometimes be on to something.

"China has made full preparation for the U.S. threats to escalate the trade war, and will have to retaliate to defend national pride and the people's interests", the ministry said in a statement day on its website.

Earlier Friday, a Chinese foreign ministry spokesman called on Washington to "come to its senses" and settle the dispute.

In July, Washington fired the first salvo in the escalating trade war with Beijing by introducing 25 percent tariffs on Chinese imports worth $34 billion.

The move is in response to threats by the Trump administration to raise the tariff rate on an additional $200 billion worth of Chinese goods.

Morgan Stanley has estimated annual Chinese imports of U.S. LNG could rise to as much as $9 billion within two or three years, from $1 billion in 2017.

Final draft of NRC to be released on Monday amid security
The NRC is a list of people who can not prove that they came to the state before March 24 1971, when Bangladesh was created. Clearly, after spending close to 1,200 Cr, the execution of this critical and highly sensitive exercise has been tardy.

The highest penalties in Friday's list would be imposed on honey, vegetables, mushrooms and chemicals, targeting farming and mining areas that supported President Donald Trump in the 2016 election.

President Trump has threatened to up the ante further by slapping £150bn ($200bn) worth of Chinese goods with levies of up to 25 percent.

Chinese authorities warned earlier that if the dispute escalated, they would adopt unspecified "comprehensive measures".

Warning that China had "better take President (Donald) Trump seriously", Kudlow insisted the Asian giant "is in trouble right now - their economy is lousy, investors are walking out, the currency is falling".

By comparison, companies in America sold £100bn ($130bn) of goods to China during the same period. "China is increasingly isolated with a weak economy".

The dispute is part of broader US complaints about global trading conditions that have prompted Trump to raise duties on steel, aluminum, washing machines or solar panels from Canada, Europe, Japan and South Korea.

"We urge the United States to come to its senses, correct its erroneous acts and create the necessary condition for a proper settlement as soon as possible", spokesman Geng Shuang said.

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