Trump threatens to impose more trade tariffs on China


Trump ordered the U.S. Trade Representative to prepare new tariffs on $200 billion in Chinese imports on Monday, stepping up a dispute that companies and investors worry could drag down global trade and economic growth.

He said the U.S. would impose tariffs on another $200 billion after that if Beijing retaliates.

Tuesday's stock-market slide has sparked a risk-off trade with money moving into the safety of the US dollar and US Treasurys.

The euro had its biggest fall in two years last Thursday after Draghi offered dovish guidance for monetary tightening while outlining details of the end of quantitative easing. Trump laid out a list of more than 800 strategically important imports from China that would be subject to a 25 percent tariff starting on July 6, including cars, the latest hard-line stance on trade by a United States president who has already been wrangling with allies.

China's commerce ministry condemned the announcement, saying the USA was engaging in a "practice of extreme pressure and blackmail".

Asian stocks had been poised for a mixed start to trading that sees Chinese markets reopen for the first time since trade tensions with the US escalated.

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Musk said the reorganization did not affect hourly assembly-line employees and was not expected to delay manufacturing targets. Earlier on Monday, Musk sent a separate email to employees informing them of a "small fire" on Sunday at a company facility.

Bardole voted for Trump, and he says while the trade agreements the president rails against have actually been good for the industry, he also says they've been bad for other industries.

Pompeo on Monday described US actions as "economic diplomacy, " which, when done right, strengthens national security and global alliances, he added.

The announcement comes as China looks for a different oil supply mix ahead of likely reductions in its imports from Venezuela and Iran.

United States trade war will hurt firms, people of USA and China.

Washington and Beijing appeared increasingly headed toward open trade conflict after negotiations failed to resolve U.S. complaints over Chinese industrial policies, their lack of market access in China and a $US375 billion United States trade deficit.

The Commerce Ministry criticized Trump's order for new tariffs on $200-billion of Chinese goods as blackmail.

Trump targets another $200 billion in China imports with tariffs
And the China trade offensive is only one side of Trump's multi-front battle with all major USA economic partners. He said China's recent claims of "openness and globalization" are "a joke". "But it's a joke", Pompeo said.

President Donald Trump pumps his fist as he leaves a meeting Monday in the East Room of the White House in Washington.

The 25 percent tariff will be applied to $50 billion of goods from China that "contain industrially significant technologies", he said.

"Further action must be taken to encourage China to change its unfair practices, open its market to United States goods, and accept a more balanced trade relationship with the United States".

Pompeo raised the trade issue directly with China last week, when he met in Beijing with President Xi Jinping and others. "Because the United States does a very good job, I believe, in following the WTO regulations, the World Trade Organization".

US President Donald Trump (R) and North Korea's leader Kim Jong Un shake hands following a signing ceremony during their historic US-North Korea summit, at the Capella Hotel on Sentosa island in Singapore on June 12, 2018.

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He even turned down invitations from England's manager Gareth Southgate to play in qualifying matches against Malta and Slovakia. But after Kyle Walker softly conceded a penalty that Ferjani Sassi converted in the 35th, numerous fouls went against England .