President Trump threatens new tariffs on $200 billion in Chinese imports

China and US trade talks

"President Trump has a great relationship with President Xi" Jinping of China.

Trump's proposed new tariffs would amount to the latest round of punitive steps in an escalating rift between the world's two largest economies.

The collateral damage could be widespread.

American farmers could be evicted from a lucrative market for their goods.

Chinese companies listed in the USA took sharp losses.

Asked whether the trade war has begun, Geng said, "China will not ignite a trade war, yet we are not afraid of it".

The president also said Canada "treats us horribly".

About 10 minutes into trading, the Dow Jones Industrial Average was down 1.2 per cent to 24,699.90. Hong Kong's Hang Seng index dropped 2.8 percent and France's CAC 40 slipped 1.4 percent.

President Trump says the tariffs on Chinese imports are a response to the country's unfair trade practices, including what administration officials contend are requirements that us companies share their intellectual property in exchange for access to China.

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"I am looking forward to seeing and meeting with the children", the first lady also said on Thursday. The first lady asked that the children be reunited with their families "as quickly as possible".

In an issue that's become linked to the trade dispute, the Senate on Monday approved a defense policy bill that would block a White House plan to allow Chinese telecom giant ZTE to buy component parts from the U.S. ZTE is accused of violating trade laws by selling sensitive technologies to North Korea and Iran.

Beijing's response drew the president's ire.

After the legal process is complete, these tariffs will go into effect if China refuses to change its practices, and also if it insists on going forward with the new tariffs that it has recently announced.

The mention of "comprehensive measures" suggests Beijing might go beyond tariffs, said Jake Parker, vice-president for China operations of the U.S. "He's willing to totally close our market to their exports..."

The moves could start to meaningfully slow US growth, economists warn.

President Donald Trump is calling for 10 percent tariffs on $200 billion in Chinese imports.

Trump is gambling that Beijing has the most to lose.

The start of a trade war between the United States and China comes at an inconvenient time for the Chinese economy.

But Beijing has chosen its targets strategically. They include electric cars, whiskey and soybeans - a politically and economically vital export of America's heartland, where Trump enjoys support.

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Trade war fears had ebbed somewhat in recent weeks after pressuring stocks earlier in the spring. Other companies say the approval process for licenses has slowed down. Or it could hold up their products at customs.

Up north, Toronto's TSX dropped 78.8 points to hover at 16,304 and the Russell 2000 index of small-cap stocks lost nearly 9 points to cling to 1,683. Asian shares were mostly lower Monday amid worries about trade tensions as the US and China both started putting tariffs in motion. -China Relations. Companies in the Standard & Poor's 500 derive a collective 5.5 percent of their revenue from China, according to the data firm FactSet. The logistics company's shares were the biggest weight on the Dow Transports .DJT , which fell 1.7 percent.

Donald Trump believes that China has snatched hundreds of thousands of jobs from Americans over the last couple of years. "With respect to Tim Cook and exceptions, I have no knowledge or comment about that", Peter Navarro, the director of the White House's National Trade Council, reportedly said.

The deepening trade fight with the United States is likely to contribute to the loss of momentum.

"During the consultations China showed ample sincerity and goodwill". It has promptly matched every US threat with its own.

"You see what's happening with China".

China's heavily regulated economy also gives officials the option of tying up companies with tax, anti-monopoly or other investigations.

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Seehofer said his party was keen to find a way to limit the number of asylum seekers arriving in Germany. However the dispute ends, it has exposed her government's fragility at a hard time for the continent.

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