Trump's $200 billion China threat wobbles European, hurts Asian stocks

The Donald Trump administration is for the first time publicly planning for a trade spat that drags into 2019 and possibly beyond

WASHINGTON-President Donald Trump has directed aides to proceed with tariffs on about another $200 billion of Chinese goods, despite Treasury Secretary Steven Mnuchin's attempts to restart trade talks with China, a source familiar with the matter said on September 14.

White House economic adviser Larry Kudlow announced during an interview on Monday that President Donald Trump would likely be imposing new tariffs on a "couple hundred billion" worth of imports from China.

In a statement, the U.S. president said further tariffs worth $267bn (£203bn) will be placed on Chinese imports if Beijing takes "retaliatory action against our farmers or other industries".

"We stand ready to negotiate with China any time if they are willing to move towards serious talks to remedy trade problems", White House National Economic Council Director Larry Kudlow said Monday in NY. American officials also worry they might erode USA industrial leadership. Beijing does not want to push the USA towards investing elsewhere and sourcing products outside China, he said.

The new tariffs will take effect from September 24, Trump said in a statement on Monday.

China has matched previous tariff moves dollar for dollar, but the number of USA goods to tax is dwindling because, for many years, it has imported only about one-quarter as much as it exports to the United States.

McClay said no escalation of tariffs was good for a small country like New Zealand, "particularly between the world's largest and second-largest economies", and he was not sure if the Government was paying enough attention to its trading partners.

If China reacts once again to the United States imposing tariffs on it, the USA will find an additional $200 billion worth of goods to throw tariffs on.

"We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly", he said. "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.

While consumer technology products are expected to get hit with additional taxes, some Apple products - including the company's watch and ear buds - will be exempt, according to a Bloomberg report. In retaliating, China in July announced tariffs on American agricultural goods and autos. In July, 25 percent tariffs on bearings and some Global Positioning System units took effect, and in August, Chinese-made e-bikes and e-bike motors were hit with a 25 percent tariff.

Liverpool inflict deserved defeat on listless Tottenham
The Reds forward suffered a nasty eye injury against Tottenham on Saturday after clashing with defender Jan Vertonghen. There's a real solidarity between us because we don't care who scored the first or the most.

"Consumers not China's will bear the brunt of these tariffs and American farmers and ranchers will see the harmful effects of retaliation worsen".

"We welcome any immediate, serious talks with China".

Trump also has complained about America's massive trade deficit - $336 billion past year - with China, its biggest trading partner.

Harley-Davidson will have to bump up the Chinese price of its iconic motorbikes at least 20 percent, a store representative in Beijing said.

"They are going to try to show they will stand up to the U.S. and not just be pushed around, but I don't think they want to be seen as escalating things".

The tariff duel is causing companies that rely on Chinese factories to rethink their business relationships, said Craig Allen, president of the US-China Business Council. China has said it will hit back.

The benchmark USA 10-year note US10YT=RR last fell 1/32 in price to yield 2.9977 percent.

A public comment period ended last week for the $200 billion tariff list, which included various internet technology products and other electronics, printed circuit boards, and consumer goods ranging from handbags to bicycles and furniture.

USA officials say those violate Beijing's market-opening commitments and worry they might erode United States industrial leadership.

Related news:

Hot News

Russian Federation military aircraft 'disappeared' off Syria during Israeli strikes
Sep 18, 2018 - 10:11
Russian Federation intervened in the Syrian conflict to prop up the government of Syrian President Bashar al-Assad in 2015. One of the missiles fell in an open area to the west of central Homs city causing a fire in an orchard, Ikhbariya TV said.

isis-killer-beheading-video-story-top Carlson misses 2 FGs in OT, Vikings and Packers tie
Sep 17, 2018 - 14:42
The good news for the Packers and their fans (like me) is that Aaron Jones is returning from a two-game suspension next week. And though the Packers remain unbeaten two weeks into the season, Rodgers admits the tie is nearly as bad as losing.

isis-killer-beheading-video-story-top Cumbria braced for Storm Helene which could cause 'danger to life'
Sep 17, 2018 - 14:16
The areas of most concern are West Wales, Devon, Cornwall, County Down in Ireland and the western coast of North East England.

isis-killer-beheading-video-story-top Europa League: Arsenal drawn against Sporting as Chelsea head to Greece
Sep 17, 2018 - 12:49
It was Atletico who went on to win the competition a year ago , cementing their place in the Champions League for this season. The final of the 2018/2019 Europa League will be played on Wednesday 29th May 2019 at the Olympic Stadium in Baku, Azerbaijan.

isis-killer-beheading-video-story-top Maurizio Sarri reveals which Chelsea star can lead them to glory
Sep 17, 2018 - 12:35
Loftus-Cheek scored two goals and made three assists in 24 appearances for the Eagles in the English top flight last term. Sarri told the BBC's Match of the Day that the Blues needed to defend better. " Chelsea is his home, of course".

isis-killer-beheading-video-story-top Man reportedly eats strawberry with needle inside, police confirm 4 ‘contamination’ incidents
Sep 17, 2018 - 12:08
On Wednesday, a Queensland woman narrowly avoided feeding contaminated strawberries to her son, posting photos of the fruit online.

isis-killer-beheading-video-story-top Meghan Markle mocked by half-sister Samantha in latest rant
Sep 15, 2018 - 18:42
The Duchess received a deluge of well wishes - and as is proper etiquette, she had thank you cards sent in response. Thomas and Samantha aren't the only ones to have raised their issues with Meghan in a public forum.

isis-killer-beheading-video-story-top Predicted Chelsea Line Up vs Cardiff City
Sep 15, 2018 - 18:27
Asked which teams are in title contention, Sarri said: "At the moment I can answer City or Liverpool , at the moment". While Emerson Palmieri, Davide Zappacosta and Ruben Loftus-Cheek have had knocks which could see them miss out.

isis-killer-beheading-video-story-top Eminem Snap On New Machine Gun Kelly Diss Track "Killshot"
Sep 15, 2018 - 18:14
You think I actually f-king think about you? "How you gonna name yourself after a damn gun and have a man bun", raps the Rap God. When it comes to verbal manslaughter, Eminem has always been ill so his latest jab at MGK was no different.

isis-killer-beheading-video-story-top At Least 5 Dead from Hurricane Florence
Sep 15, 2018 - 15:58
In Wilmington, near where the eye of the hurricane touched down, trees and power lines were down and many windows had been broken. That's enough to fill the Chesapeake Bay or cover the entire state of Texas with almost 10 centimetres of water, he calculated.

isis-killer-beheading-video-story-top Arsenal boss Unai Emery calls for improvement from Mesut Ozil
Sep 15, 2018 - 15:17
After six years here, I came and I know him as a new Nacho Monreal ", Emery said at a press conference. But he is feeling like I am feeling. "He is working for the team to help us with his quality".

isis-killer-beheading-video-story-top Tottenham vs Liverpool, Premier League
Sep 15, 2018 - 15:02
Speaking in an interview with Sky Sports on Thursday, Higginbotham said: "It's a game that suits Liverpool with them playing away. Did Sadio [Mane] play from the beginning? Klopp asked at Friday's press conference.

isis-killer-beheading-video-story-top Is that Meghan Markle walking her dog outside Kensington Palace?
Sep 14, 2018 - 19:51
In an interview with Vogue, he said: "The last thing I wanted Harry to look at was her make-up; I wanted him to see her". There are also reports that Meghan and Harry recently got a new dog together, but it's apparently a Labrador Retriever.

isis-killer-beheading-video-story-top Is Nike brilliant or insane to align itself with Colin Kaepernick?
Sep 14, 2018 - 19:47
Williams, a longtime Nike athlete, tweeted on Monday that she was "especially proud to be a part of the Nike family today". However, Williams added that athletes needed to be careful of how they participate in any sort of social injustice.

Verizon to launch 5G service in four cities in October
Sep 14, 2018 - 19:02
Members of, will get Verizon 5G Home free for three months in Houston, Indianapolis , Los Angeles and Sacramento. AT&T and others now expect to launch mobile 5G services on the standard as early as later this year.