A new round of proposed Trump tariffs would hit US consumers

Trump Announces New Taxes on TVs and Air Conditioners

On Friday, the USA imposed 25 percent tariffs on $34 billion in Chinese products, and Beijing responded with similar duties on US imports.

China's government has criticized the latest USA threat of a tariff hike as "totally unacceptable" and vowed to retaliate in their escalating trade war.

The Commerce Ministry on Wednesday gave no details, but Beijing responded to last week's U.S. tariff hike on $US34 billion ($A46 billion) of imports from China by increasing its own duties on the same amount of American goods.

It added: "The Chinese government will be forced to impose necessary countermeasures to protect its core interests".

Pointing to a moderately higher open for Wall Street shares later in the day, S&P 500 futures and Dow futures were both up by 0.3 percent.

Administration officials said a two-month process will allow the public to comment on the proposed tariffs before the list is finalized.

Gareth Southgate 'incredibly proud' as England's World Cup adventure ends
He (Kane) has captained the team exceptionally well, he has led the culture we are trying to create". Manager Zlatko Dalic nevertheless said: "We want the whole world to watch Croatia play.

Some U.S. business groups and lawmakers from Trump's own Republican Party were critical of the escalating tariffs. President Donald Trump has threatened higher tariffs on more than $500 billion of goods, or almost all of China's annual exports to the United States.

Trump has said he would consider tariffs on more than US$500 billion of Chinese exports to the United States if Beijing retaliates against the United States action, which China has done.

The US has listed some USD200m additional Chinese products that it intends to levy new tariffs on in September.

Man looks at the Pudong financial district of Shanghai Thomson Reuters SHANGHAI (Reuters) - Most U.S. businesses operating in China oppose the use of tariffs in retaliation for the challenges they face, from an uneven playing field to poor protection of intellectual property rights, a survey showed on Thursday. -China trade war jolted investor sentiment.

CURRENCIES: The dollar eased to 111.23 yen from 111.28 yen on Tuesday.

In Asia, Japan's benchmark Nikkei 225 fell 1.2 percent to 21,932.21 and South Korea's Kospi lost 0.6 percent to finish at 2,280.62.

Twitter suspends two accounts linked to 12 Russians indicted by Mueller
Trump on Saturday responded by blaming the administration of former president Barack Obama for failing to act. All 12 are members of the GRU, Russia's intelligence service, according to the court filing.

More broadly, American officials worry Chinese government plans such as "Made in China 2025", which calls for creating competitors in robots, biotech, artificial intelligence and other fields, might erode USA technology leadership and prosperity.

USA opened lower after a stretch of gains.

Regulators can deny or cancel licenses or tie up companies by launching tax, environmental or anti-monopoly investigations. Imposing taxes on another $200 billion worth of products will raise the costs of every day goods for American families, farmers, ranchers, workers, and job creators.

Stephen Holmes, a spokesman for the Home Depot, said some of the products on the list - like lumber and carpet - won't affect his company because it receives most of those from the US and Canada.

The impact of tariffs imposed Friday on the world's second-largest economy should be limited, according to private sector analysts.

Indexes in Europe and Asia took steeper losses as investors anxious the worsening trade dispute will hurt the global economy. The policy of tit-for-tat tariffs will "destroy" trade between the world's top two economies, China's assistant minister of commerce, Li Chenggang, told a forum in Beijing.

Manafort Is Transferred From Jail Where He Was Treated Like a ‘VIP’
Besides the charges of financial fraud in Virginia, he faces charges in Washington, including violating federal lobbying laws. Specifically, Manafort was charged with multiple counts relating to money laundering and bank fraud .

Louis Kuijs, Hong Kong-based Head of Asia Economics at Oxford Economics, said while he expects China to strongly condemn the US moves, its policy response is likely to be limited for now.

Related news:

Hot News

isis-killer-beheading-video-story-top Jaguar escapes at Audubon Zoo, kills 6 animals
Jul 15, 2018 - 13:03
After getting out, the jaguar made its way to other enclosures and pens at which point it ended up killing six animals. A jaguar escaped from his habitat at the Audubon Zoo in New Orleans on Saturday morning and killed six animals.

isis-killer-beheading-video-story-top Navy SEAL who died during Thai cave rescue honoured posthumously
Jul 15, 2018 - 12:55
All 13 were brought to safety in a perilous rescue organised by Thai navy SEALs and an worldwide team of cave-diving experts. During the mission to save the boys, a former Thai Navy SEAL Saman Kunam died after volunteering to lend his expertise.

isis-killer-beheading-video-story-top Trump shares 'very nice' letter from North Korea's Kim
Jul 15, 2018 - 12:47
The source with knowledge of the talks told CNN that Trump asked whether Kim knew where he'd gotten the nickname, and Kim said no. President Donald Trump made a tweet , which included a letter from Kim Jong Un , which claims "great progress" is being made.

isis-killer-beheading-video-story-top Prince Louis's christening: Royals to gather for baptism at St James's Palace
Jul 14, 2018 - 08:49
Kate arrived holding a sleeping Prince Louis in her arms, while William looked after Prince George and Princess Charlotte . While many famous royal faces will gather for Prince Louis' christening today, Queen Elizabeth II won't be one of them.

isis-killer-beheading-video-story-top Liverpool star Lovren lays the ghosts of Tottenham horror show to rest
Jul 14, 2018 - 08:20
Lovren also called for Croatia team-mate Luka Modric to receive the highest individual award in world football, the Ballon d'Or. Croatia will face France in their first-ever World Cup final at Moscow's Luzhniki Stadium on Monday morning at 1:00am AEST.

isis-killer-beheading-video-story-top High-octane Wimbledon semis on the cards
Jul 14, 2018 - 08:05
In one of the most epic matches in Wimbledon history, John Isner's run at this year's tournament ended in disappointment. After watching Isner strike a tired forehand wide, Anderson advanced to the Wimbledon final at the 10th time of asking.

isis-killer-beheading-video-story-top Woman attacked for wearing Puerto Rican shirt speaks out
Jul 14, 2018 - 06:39
But soon an intoxicated man harassed and berated her about the Puerto Rican flag shirt she was wearing. The harasser didn't seem to realize that Puerto Rico is, in fact, part of the United States America.

isis-killer-beheading-video-story-top England boss Gareth Southgate
Jul 14, 2018 - 05:02
First of all I'm so proud of this team and staff for giving everything we could over a long period of time together. He said: "It's nice to be appreciated but it's about the team". "It's not actually my decision, but I agree with it.

isis-killer-beheading-video-story-top Why NZ Football are still winners at the 2018 Fifa World Cup
Jul 13, 2018 - 07:45
While Croatia now take on France in the final on Sunday in Moscow, England play Belgium on Saturday in St Petersburg. Just don't suggest Croatia will be tired in Sunday's final when it returns to the Luzhniki Stadium on Sunday.

isis-killer-beheading-video-story-top Cesc Fabregas leaks news of Antonio Conte sacking?
Jul 13, 2018 - 06:47
Italian Sarri, 59, joined Napoli in 2015 and led them to second behind champions Juventus last season. Since the end of the 2017-18 Premier League season, Chelsea and Maurizio Sarri have been linked.

Kim hopes for 'improvement of relations' with U.S. in letter to Trump
Jul 13, 2018 - 04:56
Pompeo traveled to Pyongyang over the weekend to try to flesh out the deal, but apparently left with few tangible results. North Korean and USA teams, as well as United Nations officials, had been due to discuss the details of repatriation.

isis-killer-beheading-video-story-top Argentina's Nestor Pitana to referee final
Jul 13, 2018 - 04:26
But the 51-year-old Dalic had a largely unremarkable playing career before switching to coaching in his native Croatia . After Horacio Elizondo in 2006, he becomes the second Argentinian referee to officiate a World Cup Final.

isis-killer-beheading-video-story-top Texas lawmaker attacks FBI agent over affair
Jul 13, 2018 - 04:02
House Judiciary Committee Chairman Bob Goodlatte (R-VA) ordered Strzok to answer Gowdy's question. This is the most disgusting moment from the Peter Strzok hearing all day.

isis-killer-beheading-video-story-top Serena Williams reaches 10th Wimbledon final with straight sets win
Jul 13, 2018 - 03:18
I couldn't even walk to my mailbox, so it's definitely not normal for me to be in a Wimbledon final. She completely controlled the game and crucially broke to 4-2 in the opening set.

isis-killer-beheading-video-story-top United States unveils $200 billion list of China imports for tariffs
Jul 11, 2018 - 08:05
The White House says the tariffs are a response to unfair trade practices by China. Beijing immediately retaliated with similar duties on US exports.