US to slap tariffs on extra $200 billion of Chinese imports

Trump Announces New Taxes on TVs and Air Conditioners

China's government has criticized the latest USA threat of a tariff hike as "totally unacceptable" and vowed to retaliate in their escalating trade war.

On Friday, the US slapped 25 percent taxes on $34 billion in Chinese imports, a lot of them are industrial goods that the Trump administration says receive subsidies or other unfair support from Beijing.

TRT World's Kevin McAleese reports from Washington DC.

More than 6,000 items could be affected - including burglar alarms, vehicle tyres, handbags, baseball gloves, carpets, toilet paper, dog food, and hundreds of food products.

"Despite the serious economic consequences of ever-increasing tariffs, today there are no serious trade discussions occurring between the US and China, no plans for trade negotiations anytime soon, and seemingly little action toward a solution", Brady said.

"The Chinese side is shocked by the actions of the United States", it said in a statement, according to a translation by Google.

Stocks began to be traded lower today as a trade war between the United States and the other major economies became a reality after President Donald Trump unveiled new tariffs on Chinese goods.

The USTR said it was responding to Beijing's decision to retaliate instead of changing its policies.

China's commerce ministry said it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate.

The ministry said it "solemnly protests" the latest tariff list published by Washington, calling it "totally unacceptable". "This irrational behavior is unpopular".

Market drops started in Asia overnight, where all of China and Hong Kong's share indices lost more than 1%, and has spread to Europe as markets open here.

The biggest losers were the offshore Chinese yuan CNH=, which skidded towards an 11-month low, and the Australian dollar AUD=, which fell as much as 1.2 percent.

Less than a week into the trade war with China, President Trump is already thinking about levying more tariffs against goods imported from that nation to the U.S.

The list of proposed goods to be hit with new tariffs includes dozens of types of fish, eels, crab, lobster and other seafood.

Some US business groups and senior lawmakers were quick to criticise the move.

Overnight, Donald Trump began the process of slapping 10% tariffs on a further $200bn of imports from China, on top of the $34bn (soon to be $50bn) imposed last week.

National Retail Federation senior Vice President for Government Relations David French said the move "doubles down on a reckless strategy that will boomerang back to harm USA families and workers".

"But more tariffs like these will punish America's manufacturing workers - and could undermine our hard-won gains thanks to tax and regulatory reform". The Trump administration has so far rejected Chinese offers to trim its massive trade surplus by buying more American goods, and is demanding more systemic change.

Beijing has said it would hit back against Washington's escalating tariff measures, including through "qualitative measures", a threat that USA businesses in China fear could mean anything from stepped-up inspections to delays in investment approvals and even consumer boycotts.

NAM urged the Trump administration to negotiate a trade treaty with China.

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