Sizing up the global and domestic impact of China tariffs

Stocks at Risk Caterpillar

Time difference gives China head start on tariff war with U.S.

Economists and various experts have warned for months of the risks to the global ecomony posed by a trade war between the United States and China.

But Trump has said his administration will respond to retaliation from Beijing with tariffs on as much as $400 billion of Chinese goods, raising the prospect of worsening tit-for-tat reprisals.

Washington's targets for higher border taxes focus on industrial components like PC parts, fuel pumps, construction equipment and autos, according to trade data firm Panjiva.

Mr Feng said: "If the United States implements tariffs, they will actually be adding tariffs on companies from all countries, including Chinese and U.S. companies".

China is expected to retaliate with tariffs on $34 billion of United States goods, including soya beans.

"The US's measures are essentially attacking the global supply and value chain".

The White House said on Monday that Canada's decision to enact tariffs on C$16.6 billion ($12.63 billion) worth of American goods in retaliation for US tariffs on imports of Canadian steel and aluminum would not help its economy.

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China rejected "threats and blackmail" ahead of a threatened USA tariff hike, striking a defiant stance Thursday in a dispute companies worry could flare into a full-blown trade war and chill the global economy.

The influential US Chamber of Commerce urged Trump this week to reconsider his actions, saying the counter-tariffs now affected $75 billion in American exports and endangered US jobs.

On Thursday, China's state media lambasted the United States.

Chinese stocks have taken a beating in recent weeks, entering a bear market, as concerns about the trade-war have mingled with worries about how an ongoing debt-control campaign will feed through into the outlook for economic growth. The initial set of USA tariffs could rock companies in the technology sector and hike the price of "Walmart-type" products.

"Counterstrike is major economies' first reaction to Washington's trade war", it said in its editorial. "It is totally within the scope of duty of the Chinese Embassy and consulates in the issue such travel alert".

A statement issued by China's State Council on June 16 said that retaliatory extra duties on US$34 billion of usa imports are set to take effect on July 6.

Friday July 6 is the date when the world's two largest economies are due to slide deeper into a trade conflict that's roiled markets and cast a shadow over the global growth outlook.

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It's the same approach the Trump administration used before it slapped tariffs on steel and aluminum imports earlier this year. The statement comes in response to a Section 232 investigation into auto imports- followed by a tweet issued by Pres.

The global commercial order is being shaken by the Trump administration's use of an obscure U.S. trade-law provision on national security to justify steel and aluminium tariffs against a host of countries including defence allies.

Xi's government has expressed confidence China can hold out against USA pressure, but companies and investors are uneasy.

"While the Trump administration is anxious about gains and losses, Chinese people have unfaltering confidence in China's future".

"There is a chance the company will lose money and might go bankrupt", said Tong.

Here in Beijing, in response to the USA tariffs, border officers here could receive the order as early as midnight to slap new taxes on hundreds of US products, including pork, poultry, soybeans and corn.

A senior Western diplomat told Reuters that there was no sign of any talks at the moment between the two countries, even via back channels.

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