Trump announces United States tariffs on $50 billion in Chinese imports

US President Donald Trump Trump says he'll confront China

The White House has announced a 25-percent tariff on $50 billion worth of Chinese goods in what it calls a clampdown on unfair trade practices by Beijing.

Speaking alongside U.S. Secretary of State Mike Pompeo in Beijing, Chinese State Councillor Wang Yi said there were two choices when it came to trade.

Trump kicked off the action in March with the announcement that the USA would impose tariffs on Chinese goods as punishment for the theft of United States intellectual property by China.

In a statement on Friday, the State Council's Customs Tariff Commission said the US was violating the rules of the World Trade Organization, and contradicting previous negotiations between Washington and Beijing.

Being penalized for succeeding in global trade is one more twist in a brewing worldwide trade war that comes as the president implements his "America First" trade policy, aimed in part at cracking down on what he said are China's unfair trade policies and its efforts to undermine US technology.

Boeing garnered about 12.8 per cent of its 2017 revenues from China and is frequently seen as among the more vulnerable U.S. multinationals to an all-out trade war.

China has published its own list of threatened tariffs on US$50 billion in USA goods, including soybeans, aircraft, and cars, and has said it would hit back if Washington followed up with further measures. In May, Chinese officials had promised to buy more American farm goods, natural gas and other products to narrow China's large trade surplus with the United States.

Beijing will impose an additional 25% tariff starting from July 6 on 545 products from the United States including soybeans, electric cars, orange juice, whiskey, lobsters, salmon and cigars, according to the Ministry of Finance.

A Chinese government website posted a list of seafood products that will face the tariffs, and it included live, fresh and frozen lobster.

South Korea alarmed after Trump says no more war games
Max Thunder's air combat exercises so unnerved North Korea that it issued threatening statements that almost scuttled the summit. On conservative Fox News and among Mr Trump's core supporters, the president was lauded for a historic diplomatic breakthrough.

Trump outraged Canadian, Mexican and European leaders last month by imposing punishing tariffs on imports of steel and aluminum to protect American producers from allegedly unfair competition.

Trump released a statement on the new tariffs, calling them a retaliation against Chinese intellectual property graft.

"China does not want to fight a trade war", the Commerce Ministry said. Friday's salvos mark a significant step toward a full-blown trade war between the United States and China despite months of trade talks and negotiations in an effort to avoid that outcome. The United States now dominates those industries, but Chinese government support could make it hard for USA companies to compete.

Reacting to Trump's latest move, China has vowed to immediately retaliate.

The tariffs were in response to complaints that China requires or pressures foreign companies to hand over technology.

Some also argue that eliminating our barriers to trade is good for US consumers whether other countries lower theirs or not. But the measures could also lead to higher prices and job losses in some industries. On Friday, they issued a joint statement promising they will bring their concerns to the Office of the U.S. Trade Representative.

"We grow more than we can use [domestically]", said Blue Earth County corn and soybean farmer Kevin Paap, president of the Minnesota Farm Bureau.

The productivity and robust sales of American agricultural products leave them in the cross hairs of anyone trying to gain leverage against the U.S.

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