Trump poised to make major China trade announcement

Kudlow: Trump Has 'Not Been Satisfied' With China Trade Talks

Trump poised to make major China trade announcement

American businesses have come out strongly against the tariffs, saying they have the potential of raising retail prices.

"Tariffs have put the a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country - and yet cost increases have thus far been nearly unnoticeable", he wrote on Twitter Monday.

The president said countries unwilling to participate in fair trade will be tariffed.

He said an announcement on an additional $200 billion of tariffs on Chinese goods were "coming soon".

"If the United States launches any new tariff measures, China will have to take countermeasures to firmly ensure our legitimate rights and interests", foreign ministry spokesman Geng Shuang told reporters during a regular press briefing.

China has said it will respond to the next round of United States levies with retaliatory tariffs on $60 billion of U.S goods ranging from liquefied natural gas to aircraft.

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The Trump administration will spare a category of hi-tech products that includes Apple's Watch and its AirPods headphones from the next round of tariffs it is imposing on Chinese goods, according to two people familiar with the matter.

The new round of taxes are jeopardizing talks led by Treasury Secretary Steve Mnuchin with Chinese officials to end the cycle of tit-for-tat tariffs.

Lou was finance minister through 2016 and serves as chairman of China's 1.9 trillion yuan ($290 billion) National Social Security Fund, which manages assets of government pension plans.

Prospects for the new tariffs have weighed on global stocks, with all three major us stock market indexes lower Monday.

Chinese officials have acknowledged the invitation but are reportedly considering not attending proposed meetings in Washington, D.C. if the US moves ahead with the new tariffs.

"China is not going to negotiate with a gun pointed to its head", a senior Chinese official told the newspaper.

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"He has not been satisfied with the talks with China on this".

Last week, the American Chambers of Commerce in China and in Shanghai reported 52.1 percent of more than 430 companies that responded to a survey said Chinese authorities are subjecting them to "qualitative measures" including slower customs clearance and increased inspections and bureaucratic procedures.

The Trump administration has demanded that China cut its $375 billion trade surplus with the United States, end policies aimed at acquiring US technologies and intellectual property and roll back high-tech industrial subsidies.

"If you don't know what the rules are or how it's going to operate, you are going to be fairly hesitant about making that investment", said Snyder, who was in China to promote his state's industries, including autonomous vehicle technology.

Trump didn't otherwise elaborate on the announcement, which he described after complaining about the US trade deficit with China.

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