China and Russian Federation hit back at Trump tariffs

China and Russian Federation hit back at Trump tariffs

The Customs and Border Protection's website confirmed on Thursday that the new tariffs on Chinese goods will take effect Friday at 12:01 a.m.

President Donald Trump's administration's 25 per cent tariffs are targeting Chinese products such as industrial machinery, medical devices and auto parts.

China's said it was "forced to make a necessary counterattack" to a USA tariff hike on Chinese goods but gave no immediate details of possible retaliation. But the trade gap between the United States and China widened sharply, Commerce Department said.

With these new protectionist policies, President Trump's main goal is to reduce the flow of Chinese imports and push American consumers to buy domestically-made products.

It turns up the heat in an increasingly bitter trade war between the USA and its biggest trading partner.

Then, in June, the administration cut 515 imports from the tariff list and added 284 others. "Of the original $50 billion in tariffs on China, items including lithium batteries, navigation devices, disk drives and circuit board components will be affected - hitting $15.2 billion worth of Chinese imports".

Iconic American motorcycle brand Harley Davidson has announced plans to move production overseas to evade the retaliatory tariffs from the European Union, drawing a barrage of attacks on Twitter from Trump.

The higher USA tariffs went into effect just after noon in Beijing (0401 GMT). "And that's going to impact the stock market".

Imports of semiconductor-dense products like televisions and smartphones so far have mostly been spared by Trump, but they could be hit if the trade dispute grows. "These tariffs could mean the difference between a profit and a loss for an entire year's worth of work out in the field, and that's only in the near term", Bible said. American officials worry USA industrial leadership will be eroded by Chinese plans to create tech champions in fields including robotics, biotech and artificial intelligence.

The threat of a trade war has become a reality.

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As the world's most developed nation and the rule-maker of the current global governing system, there is "astounding absurdity" in the US complaining that it's been bullied in trade, the People's Daily, the flagship newspaper of the Communist Party of China, said in a Chinese language commentary on Friday.

Trump has taken an aggressive stance on trade, fulfilling a campaign promise.

China has said it would respond with tariffs on hundreds of U.S. goods, including top exports such as soybeans, sorghum and cotton, threatening USA farmers in states that backed Trump in the 2016 U.S. election, such as Texas and Iowa.

In April, the White House instructed the United States Trade Representative to consider $100 billion in additional tariffs against China.

"[The US has started the] largest trade war in economic history".

Beijing has made the semiconductor sector a key priority under its "Made in China 2025" strategy, which has intensified after a US ban on sales to Chinese phone maker ZTE Corp (000063.SZ) underscored China's lack of domestic chips.

The United States and China slid into an unprecedented trade war on Friday.

Tariffs have become Trump's preferred negotiating tool when it comes to trade, an approach that he says will give the US leverage and force countries to change their policies.

Economists say that if the back-and-forth stops there, the overall impact on both economies will be minimal even though some industries will suffer. These tactics include cyber-theft as well as requiring American companies to hand over technology in exchange for access to China's market.

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