China says it will hit back at US for ‘completely unacceptable’ tariffs

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Pence cited several exporting opportunities that he said have improved during the Trump administration, including beef to China and poultry to South Korea.

Beijing gave no details of the possible retaliation but earlier it threatened "comprehensive measures". Trump has already said that if China retaliates, he'll look to levy tariffs on another $200 billion of Chinese exports.

The spiraling conflict over USA complaints about Chinese technology policy has prompted warnings it might chill global economic growth.

The United States complained China used predatory practices in a push to challenge American technological dominance.

The officials said they tried to target goods that would reduce the harm to USA consumers.

President Donald Trump is threatening to impose the tariffs in retaliation for duties that China slapped on $34 billion of USA goods on Friday. "To protect the core interests of the nation and its people, China's government is, as in the past, forced to retaliate". -China trade balance as U.S. President Donald Trump has railed against China's sizable surplus with the world's no. 1 economy and has demanded Beijing take measures to cut it.

But China also faces difficulties in retaliating directly: it ships far more goods to the United States ($506 billion past year, according to U.S. figures) than come back in the opposite direction ($130 billion).

The initial U.S. tariff list focused on Chinese industrial products in an attempt to limit the impact on American consumers.

Rather than reversing its warmongering, the US administration has doubled down on the unilateralism.

The public will have a chance to comment on the list before the new tariffs - to be imposed at 10% -come into effect. Last year, U.S. goods exports to China were worth $130bn.

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The US administration on Friday imposed 25% duties on Chinese imports worth $34 billion (Rs 23,454 crore) after threatening to do so for months.

China hit back with its own levies - targeting United States products such as mixed nuts and whiskey.

What Beijing could do instead is to make life more hard for American business interests, with more aggressive action by regulators, such as safety inspections or financial investigations. Regulators can deny or cancel licenses or tie up companies by launching tax, environmental or anti-monopoly investigations.

The total USA debt is over 18 trillion euros.

China can't fully counteract the United States' move tit-for-tat, at least not with tariffs alone.

Members of Congress are increasingly questioning Trump's tactics. "Now, we will need to grapple with new tariffs on an additional US$200 billion worth of imports, which are bound to include even more consumer products and everyday essentials".

Sen. Orrin Hatch, R-Utah, said in a statement that although he "supported the administration's targeted effort to combat China's technology transfer regime", the latest move "appears reckless and is not a targeted approach".

Envoys from the two sides last met June 3 when Commerce Secretary Wilbur Ross visited Beijing for talks with Vice Premier Liu He. "It's up to them to open the door again". In doing so, the Chinese will try to get these companies to exert political pressure on the American government. They criticize Trump's tactics but share US complaints about Beijing's industrial policies. There is no victor in a trade war.

Asian stock markets fell sharply on Wednesday as investors shunned risk amid escalating trade tensions between the two economic giants.

The Shanghai Composite fell 1.8% and Hong Kong's Hang Seng was down 1.3% Wednesday.

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