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China vows 'same strength' measures against USA tariffs

05 April 2018

The Dow was down 115 points, or about half a percent, and the S&P; 5oo was almost unchanged at 1:55 p.m. ET.

At 2:43 p.m (1843 GMT), the Dow Jones Industrial Average .DJI rose 86.19 points, or 0.36 percent, to 24,119.55, the S&P 500 .SPX gained 14.44 points, or 0.55 percent, to 2,628.89 and the Nasdaq Composite .IXIC added 48.12 points, or 0.69 percent, to 6,989.40.

US stocks open sharply lower on the escalating trade dispute, with the Dow falling 500 points early Wednesday.

When asked about the airline's plane buying plans, he said that "it's too early to say, we will keep an eye on the situation of the China-U.S. trade war".

The increase mirrors the possible 25 percent tariffs announced Tuesday by the Trump administration on goods including aerospace, telecoms and machinery.

As it stands, China is more vulnerable than the us, says Katsoras.

At a news conference on Wednesday, Chinese officials did little to stem talk of "war", but stressed that Beijing is willing to work with the White House. "If someone wants to talk, our door is open", said Wang Shouwen, vice-minister of commerce.

"It's more of a game of brinkmanship, making it clear what the cost would be, in the hopes that both sides can come to an agreement and none of these tariffs will come into force", said Evans-Pritchard.

US President Donald Trump denied on Wednesday speculation about a trade war between Beijing and Washington.

US President Donald Trump is demanding China to cut down United States dollars 375 billion trade deficit by USD 100 billion in about a month.

China announced plans for a 25% tariff on $50 billion a year worth of American exports, including plans, cars, soybeans and chemicals.

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Over the last month, President Donald Trump has rattled markets and disregarded warnings from industry groups and members of his own Republican party in announcing punishing new tariffs on exports from major trading partners.

Tariffs targeting the European Union are now on hold, but the White House hasn't eased up on China, despite Trump's insistence that the United States is not seeking a full-blown trade war.

The U.S. trade sanctions would hurt Chinese imports of 1,300 categories of products, from medical equipment to machine tools and dishwashers.

"Even though the numbers between China and the USA are comparable, it seems clear that China is trying to twist the knife", he said, "This is a warning that 'we are willing to fight harder and inflict more pain that you are'". Farm states generally backed Trump in the 2016 election and their exports could be hurt.

Chinese authorities warned they would respond with the "same strength" after US authorities issued a list of Chinese goods Tuesday targeted for 25 percent duties in response to complaints Beijing pressures foreign companies to hand over technology. Asian stocks fell for a second day Tuesday amid jitters about U.S.

China expresses "strong dissatisfaction" over the decision, adding that it "aggravates the global trade environment". The tit-for-tat action comes hours after Washington detailed about 1,300 Chinese products it meant to hit with tariffs - also set at 25 per cent. On Monday, China returned fire by imposing similar measures on $3 billion worth of US pork, fruit and other items.

The U.S. Chamber of Commerce said it shares the president's concern with China's conduct but warned tariffs would simply raise prices on U.S. consumers and businesses.

"As the Chinese saying goes, it is only polite to reciprocate".

But much of the value of that trade comes from US semiconductors that are sent overseas for low value-added processing before finding their way back to USA consumers registered as USA imports.

"This measure of the United States clearly violates the relevant rules of the World Trade Organization and seriously violates China's legitimate rights and interests under the rules of the World Trade Organization and threatens China's economic interests and security", according to the Ministry of Commerce's statement.

China vows 'same strength' measures against USA tariffs