Trump's China tariffs leave room to negotiate, but investors fret

China says WTO ruling on Obama tariffs shows US is a 'repeat abuser'

On Friday, China said it would put $3 billion of tariffs on American goods.

As part of its continuing campaign to prevent China from stealing American intellectual property, President Donald Trump's administration is considering restrictions on the number of Chinese citizens enrolled at US colleges and universities.

In announcing the planned tariffs, the Commerce Ministry said China would also "take legal action within the framework of the World Trade Organization".

"Reports indicate that "apparel" and "textiles" will be on the list, but there has been nothing more specific than that to date", HPFA counsel Robert Leo noted in an email to association members yesterday afternoon.

"There's no trade war; it's just a trick", he said."The U.S came with trade tariffs to say it's not happy".

Meanwhile, US Commerce Secretary Wilbur Ross said Friday that US and South Korean officials were "relatively close" to reaching a deal on the steel and aluminium tariffs, with an announcement possible as early as next week.

There is a chance select product categories could get exempted from the tariffs.

"China should first take measures to deal a blow to the industries in US states that helped Trump win the 2016 presidential election and those states whose political leaders are still backing him in this year's midterm election".

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The Section 301 investigation report "violates worldwide trade rules and is beneficial to neither Chinese interests, USA interests nor global interests", Xinhua cited Liu as saying. He said Trump and Xi agreed past year on a 100-day agenda of trade-liberalization measures but Beijing failed to act on about half of them.

By including the WTO in its framework, the Trump administration is still working through established channels. China typically responds to trade salvos proportionally, which economists call a tit-for-tat response.

For its part, China announced plans to levy additional tariffs on up to $3 billion of United States imports including fresh fruit, wine and nuts.

Farmers voted overwhelmingly for Trump in 2016.

The tensions reflect the dueling nationalistic ambitions of Trump and his Chinese counterpart, Xi Jinping. "It also demonstrated that the global community is concerned about the recklessness and danger of US policies and actions". "China relationship", tweeted Ely Ratner, a senior fellow at the Council on Foreign Relations who served as deputy national security adviser to Vice President Joe Biden.

At least two trading houses have started buying more rapeseed meal, an alternative ingredient used to make animal feed, in case the oilseed is a target of retaliation by Beijing, sources at the company familiar with the strategies said.

"China has already prepared, and has the strength, to defend its national interests", Liu said, adding that China hopes both sides can work hard to protect the broad picture of generally stable Sino-U.S. trade and business relations.

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