Apple Watch, AirPods excluded from next round of tariffs says new report

Trump to slap 10% tariff on $200 bn of Chinese goods ,Beijing to retaliate

US impose new $200bn tariffs on China imports

The additional tariffs will be on top of $50 billion in tariffs on Chinese goods imposed in July.

This addition brings tariffs to about half of all goods imported from China to the U.S. Tariffs increase the cost of goods to U.S. buyers, and lead to higher prices for the same items from domestic producers and imports from countries that have avoided tariffs.

Tariffs of 10 percent will be imposed on $200 billion (€171 billion) worth of imports from September 24, rising to 25 percent on January 1.

Those included high-profile consumer products, such as smart watches, bicycle helmets, play pens and baby auto seats.

China warns it has no choice but to retaliate against the latest round of U.S. tariffs but did not specify how.

Trump announced that the USA will start to charge 10 per cent tariffs on US$200 billion worth of Chinese products from next Monday, significantly widening the scope of a trade war.

US and Chinese trade delegations led by Treasury Sec. And China has retaliated in kind, hitting American soybeans, among other goods, in a shot at the president's supporters in the USA farm belt. Some companies are looking to move out of China to dodge the tariffs, said Ted Murphy, a partner at the Baker McKenzie law firm.

Lower economic growth in China would have spill-over effects to the rest of Asia given that, just as it provides critical links in the supply chains of USA companies, they are also plugged into its supply chain. But the tariffs are thought to have cost significant U.S. job losses.

In response, the American President took to Twitter to rail against Cupertino.

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"If the U.S. 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 on Monday. "But at this time, everything the United States does does not give the impression of sincerity or goodwill", he added. Billions of Dollars is being spent on new plants all around the country!' he wrote. "Exciting! #MAGA", Trump wrote. The Trump administration has bypassed the WTO on its tariffs, however.

Washington has already imposed 25 percent duties on $50 billion of Chinese goods over what it alleges are unfair trade practices. At the same time, China introduced its own tariffs to the same value.

Boats, TV sets, and cooper are among the list of imports covered by $200 billion in new tariffs against China that the Trump administration announced Monday.

"With a narrowing focus on the U.S. midterm elections (Nov 6) and USA politics - as well as fast-money investors holding substantial aggregate long USD positions - we think the market narrative over the next few months could well transition from "default to the dollar" to "ditch the dollar", says Viraj Patel, an FX strategist at ING Group. "The unilateral and hegemonic moves by the U.S. will meet firm countermeasures from China.China will not just play defense", the Global Times says.

The Trump administration has demanded that China cut its $375 billion trade surplus with the United States, end policies aimed at acquiring USA technologies and intellectual property and roll back high-tech industrial subsidies. The final list released today removed 300 items that include smartwatches, bike helmets, children's playpens, some chemicals, and health and safety devices.

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He said "no-one benefits from trade disputes or a global trade war".

Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC), said at a conference in Tianjin that he hopes the two sides can sit down and negotiate on trade and that he looks forward to good China-US trade relations over the long term. Currently, the U.S. imports over half a trillion dollars worth of goods from China every year, while China imports $130 billion from the US.

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