China slams USA 'intimidation' as new tariffs kick in

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The Chinese government has accused US President Donald Trump of bullying trade tactics and economic intimidation, while also calling for the world's two biggest economies to cooperate.

The latest volley against Beijing brings the amount of goods hit by duties to more than $250 billion, roughly half of China's U.S. exports, with American consumers set to increasingly feel the pain. American officials say Chinese plans for state-led development of global competitors in robotics and other technologies violate its market-opening obligations and might erode USA industrial leadership.

The pair have slapped tit-for-tat tariffs on $50 billion ($A68 billion) worth of goods since the trade war kicked off.

The Wall Street Journal reported that China, which has accused Washington of being insincere in trade negotiations, has decided not to send Vice Premier Liu He to Washington this week.

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"Following President Trump's threat of further escalation, we now think the probability that all imports from China will ultimately be subject to tariffs has risen to 60 percent", the bank's analysts wrote in a research note, quoted by media. American regulators tried to limit the public impact by focusing on industrial machinery and components, but the latest $200 billion list includes bicycles, wooden furniture and other consumer goods.

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Scott Brown, chief economist at Raymond James in St. Petersburg, Florida said: "One of the bigger risks with these tariffs going into effect is that the United States may be pushed out of the Chinese market and it is a growing market".

Mr Trump has threatened to impose tariffs on a further US$267 billion of Chinese goods if Beijing does so.

The toughly worded report said Beijing wants a "reasonable solution" but gave no indication of possible concessions. They say Beijing is no longer entitled to concessions it was granted when it joined the World Trade Organization in 2001, such as the right to limit access to its finance, energy and other markets.

"The only closed economy is the global economy, if the Chinese economy weakens, so by definition does the USA economy weaken". The rate will increase to 25 percent by the end of the year.

Vacuum cleaners, of which more than $1.8 billion worth were imported into the US last year, as well as light bulbs, could also take a hit.

"As the largest importer of USA soybeans, China is a vital and robust market we can not afford to lose, " the supplement quotes Davie Stephens, vice president of the American Soybean Association and a Kentucky soybean grower, saying in a statement. This time worth US$200 billion.

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