"If the United States loses its senses and comes up with a new list, China will be forced to strike back hard, and launch comprehensive measures that match the U.S. move in quantity and quality", the Chinese Commerce Ministry said in a statement Tuesday.
The president ordered his administration to prepare a new package of tariffs affecting as much as $200 billion worth of China trade.
The US "practice of extreme pressure and blackmail departed from the consensus reached by both sides during multiple negotiations and has also greatly disappointed global society", it said.
China swiftly rebuked the threat and said it would take strong countermeasures to safeguard itself if new tariffs are indeed announced. The Dow Jones industrial average fell 1.7%, down more than 400 points, and S&P 500 lost 1.1% after heavy overnight selling dropped China's Shanghai Composite (-3.78%) to its lowest level in two years. But on Saturday, Beijing announced 25 percent tariffs on $34 billion of US imports including soybeans and beef effective July 6 in response to Trump's tariff hike on a similar amount of Chinese goods.
However, he emphasized no additional duties would be imposed until they have gone through a legal vetting process, which includes taking comments and holding a public hearing.
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The Huthis suffered 30 fatalities on Thursday in clashes near Hodeida airport south of the city, medical sources told AFP. He said it would take Arab forces about 72 hours to clear mines from Hodeidah's port or airport once it captures them.
But just because Beijing can't retaliate reciprocally, doesn't mean it can't hit back proportionately: China can still disrupt US supply chains by freezing activities at select ports, or decline to approve acquisitions sought by American companies.
The Chinese Commerce Ministry reacted quickly to Trump's announcement, accusing the United States of "extreme pressure and extortionist behavior" and warning it would "strike back hard".
"China could target USA firms through tax and regulatory policies", said Citigroup in a report.
"The United States has initiated a trade war and violated market regulations, and is harming the interests of not just the people of China and the US, but of the world", the ministry added.
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He said the group was planning to introduce legislation in Congress next week that would stop families from being separated. Trump is scheduled to go to Capitol Hill on Tuesday at 5:30 pm to speak with House Republicans about immigration reform.
The risk of "a more meaningful impact on global trade and growth have increased", said Morgan Stanley economists in a report.
China responded with a 178.6 percent tariff on all imports of sorghum to the United States.
However, "history shows that there are various other measures [China] could take to inflict pain on U.S. companies, especially those present in China, including scaled up health, safety and tax checks, delaying the imports of goods, and boycotts of United States goods", he said. "China's government will step up an already intensive effort to determine whether Trump has the political strength to carry out his threats, while working to maximize pressure on USA interests to force him to back down and accept a compromise". What's more, unlike Trump's other trade spats, there are (arguably) real national interests at stake in his showdown with China.
"Our sense is that President Trump believes the Chinese have little latitude to retaliate given the current trade disparity, but Beijing could employ peripheral policies beyond tariffs that serve to further escalate tensions between the two countries", Boltansky and Davaz wrote in a note to clients.
Gary Cohn, Trump's former top economic adviser, said last week that a "tariff battle" could result in price inflation and consumer debt - "historic ingredients for an economic slowdown".
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ME voters selected businessman Shawn Moody in the ranked-choice primary to succeed term-limited, conservative Republican Gov. She is tough on crime and will continue our fight to lower taxes. "We are the party of President Donald J.