'Shocked' by Latest U.S. Tariffs, Beijing Seeks Retaliatory Action

US Releases $200bn List Of Chinese Products For Possible New Tariffs

US Releases $200bn List Of Chinese Products For Possible New Tariffs

He said the politicians respond, "Please, leave it the way it is".

"It's already past the point of no return", said Pauline Loong, managing director at research firm Asia-Analytica in Hong Kong.

Sources at other state-run news agencies told Reuters that they were instructed not to report on whether the trade war is negatively affecting Chinese businesses.

The Australian dollar, often seen as a proxy for Chinese economic fortunes, fell 0.6 per cent as did South Korea's won and Mexico s peso, which also faces the threat of Trump ditching the NAFTA trade pact.

After the list was released, China's Commerce Ministry said in a statement that it could not accept the additional tariffs proposed by the U.S., adding that it was "shocked" by the decision.

The country's Commerce Ministry earlier threatened "comprehensive measures", which were feared to include harassing American companies in China.

Beijing described Washington's latest threat as "totally unacceptable", saying it would hurt the world. "The U.S. side ignored the progress, adopted unilateral and protectionist measures, and started the trade war".

China gave no details, but it has plenty of options to retaliate that could extend beyond additional tariffs on U.S. imports.

China's Commerce Ministry slammed the latest U.S. threat as a "totally unacceptable" escalation of their dispute and promised to protect its "core interests".

US Senate Finance Committee Chairman Orrin Hatch described the move was "reckless".

A larger concern for the Trump administration could be the trade feud's impact on consumers.

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"The administration has been pursuing tariffs now for months and we still don't know what the endgame is", Mr. Other high-profile items such as mobile phones have so far been spared.

U.S. President Donald Trump and first lady Melania arrive on Air Force One at Beijing, China, November 8, 2017.

So far Republicans in Congress have been more talk than walk on trade.

For more than a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition.

The Chinese commerce ministry said that it was "shocked at the United States action" and warned that it would be forced to retaliate "to protect the core interests of the nation and its people".

Trump, who has reportedly weighed quitting the 164-member WTO, has voiced particular irritation over the fact that China continues to self-identify as a developing nation.

Beijing on Wednesday vowed to take "countermeasures" after the announcement.

"This is an appropriate response", Robert Lighthizer, the U.S. trade representative, insisted last night.

He said the administration should get back to the negotiating table with China.

Seems like President Trump is looking out for his little girl.

The USTR, the federal agency that oversees global trade policy and negotiations, said it was responding to Beijing's decision to retaliate instead of changing its policies.

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