Trump administration approves $50 billion tariffs on China

Trump approves plan to impose steep tariffs on Chinese goods

Trump said the 25 percent tariff is supported by a report from the Office of the U.S. Trade Representative that found China's trade practices related to technology and intellectual property are discriminatory and burden the U.S. economy.

The Chinese commerce ministry did not provide details of how it planned to implement the new duties.

The headline statement from the Trump administration, found here, is that this is a direct response to years of unfair trade practices as well as IP theft that China allowed to blatantly take place.

Trump began his tariff announcement by lauding his "great friendship" with Communist leader Xi Jinping, and how that and relations between the USA and China "are both very important to me".

Geng gave no details but said both the foreign and commerce ministries had made formal responses to earlier US statements.

Sweden vs. South Korea - Football Match Report
South Korea's only real chance to equalise came in the 92nd minute, when Hwang Hee-Chan's headed attempt went wide to the left. Swedish officials revealed the Manchester United centre-back had remained behind at their hotel but gave no other details.

As part of the tariff announcement this morning, the White House promised to "pursue additional tariffs if China engages in retaliatory measures, such as imposing new tariffs on United States goods, services, or agricultural products". He said the White House could impose additional tariffs if China hits back with its own set of additional taxes on American crops or other products.

The statement also said China was not going forward with deals to buy more American goods. "Those are crown jewels for this country", the president said.

Indeed, Business Insider reported Republican Rep. Kevin Brady commenting: "My message has been consistent: we need to hit our target, which is China and its deceptive and harmful trading practices".

The Commerce Ministry said: "China does not want a trade war".

"We will immediately take tariff measures of the same scale and intensity".

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The Bayern Munich attacking midfielder is key to Colombia's chances of repeating their run to the quarter finals four years ago. Japan are paying $6 for the win in group H while Colombia are around $1.75, with the draw coming in at $3.5.

United States officials say Beijing has sought industrial dominance in the emerging technologies through the theft of American know-how through forced technology transfers, hacking and other forms industrial espionage. The move was seen by the an attempt raise the gambit in the ongoing dispute with Washington over trade and industrial policy. It authorizes the U.S. President to impose tariffs when it is in the interest of American "national security".

Gary Cohn was formerly a top economic adviser for the president.

"If you end up with a tariff battle, you will end up with price inflation, and you could end up with consumer debt".

While the International Monetary Fund expects the trade dispute to have relatively minor economic consequences - slowing GDP by a fraction of a percentage point - Ms Lagarde said she was concerned about how the fight would affect sentiment. Mario Ritter was the editor. Those tariffs were introduced under Section 232 of the U.S. Trade Expansion Act.

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Melania Trump is calling on America to be "a country that governs with heart" in a rare intervention into political debate. Senators Susan Collins and Jeff Flake wrote to White House officials on Saturday seeking more information on the policy.

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