U.S. imposes new $200bn tariffs on China

U.S. imposes new $200bn tariffs on China

U.S. imposes new $200bn tariffs on China

"We have always stated that negotiations on the basis of equality, honesty and mutual respect represent the only right way out of the current trade issue between China and the USA", said Geng.

China is reportedly threatening to pull out of trade negotiations if the USA levies new tariffs, and the Foreign Ministry on Monday said it would respond in kind if the U.S. were to levy fresh tariffs. Trump has already imposed 25 percent tariffs on $50 billion in goods from China.

Economists at UBS Group AG say even a 10 percent tariff would slow the US economy in the fourth quarter by enough to stop the Federal Reserve hiking interest rates again in December, Bloomberg reported.

Chinese officials have acknowledged the invitation but are reportedly considering not attending proposed meetings in Washington, D.C. if the USA moves ahead with the new tariffs.

Apple and Amazon.com bore the brunt of investor worries about the tariffs, which were on a list unveiled in July that included $200 billion worth of internet technology products, other electronics, printed circuit boards and consumer goods.

Trump defended his policies in an early-morning tweet on Monday, writing: "Tariffs have put the U.S.in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country - and yet cost increases have thus far been nearly unnoticeable". Apple Inc. said last month the proposed duties on $200 billion cover a wide range of products used in its United States operations.USA stock futures edged lower, Asian equities slumped and European shares fluctuated amid investor concerns a heightened trade war will crimp corporate profits and undermine economic growth.

The US is imposing new tariffs on $200bn (£150bn) worth of Chinese goods as it escalates its trade war with Beijing.

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A Treasury spokesman did not immediately respond to a query on the status of the China talks invitation.

"China is not going to negotiate with a gun pointed to its head", a senior Chinese official told the newspaper.

China has threatened to retaliate and pull out of negotiations if that happens.

China retaliated against the first round of USA tariffs, which were applied mostly to Chinese technology imports, with its own $50 billion of tariffs, primarily on US agricultural goods.

"But, so far, China has been unwilling to change its practices", he said.

Trump didn't otherwise elaborate on the announcement, which he described after complaining about the USA trade deficit with China.

"I would encourage the national governments to resolve it as quickly as possible, because it's a concern for all". It is not a solicitation to make any exchange in commodities, securities or other financial instruments.

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