United States unveils tariffs on extra US$200 bln of Chinese imports

Trump Announces New Taxes on TVs and Air Conditioners

"This is an appropriate response under the authority of Section 301 to obtain the elimination of China's harmful industrial policies", Lighthizer said of the proposed tariffs on US$200 billion of Chinese goods. It gave no details.

"China stands in line with the global community on the correct side of history to together protect the rules of the multilateral trade order", foreign ministry spokeswoman Hua said on Wednesday.

The spiraling conflict over Chinese technology policy threatens to chill global economic growth. It's a sign that global automakers are increasing development under pressure from Beijing.

Global stocks tumbled Wednesday after Beijing hit back at US plans for tariffs on $200 billion more Chinese exports, with tensions rising over the trade war between the world's two largest economies.

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

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

Mr Trump has threatened to put new taxes on nearly everything the U.S. imports from China.

The list is subject to a two-month public comment period before taking effect.

It said the first $34 billion would be followed up by another $16 billion once the US's second wave of tariffs goes into effect in a few weeks.

The new list includes vacuum cleaners, furniture, auto and bicycle parts, French doors and plywood.

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"Consumers are feeling good, but if they see prices start going up, there could be a backlash", said Rod Sides, U.S. leader of retail at Deloitte.

That "will hit the Chinese export sector hard", said Rajiv Biswas of IHS Markit in a report.

The Trump administration has planned more tariff increases in case of continued Chinese retaliation that could ultimately cover the entire worth of imports from China, $505 billion. So companies are scrambling to adjust their supply chains to keep US -bound goods from passing through China.

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. All other major governments have approved the deal.

So far, many Americans are enjoying a solid economy and haven't felt an impact from Trump's trade fights.

Indexes in Europe and Asia took steeper losses as investors anxious the worsening trade dispute will hamper the growth of the global economy.

Members of Congress are increasingly questioning Trump's tactics. "There is no justification for such action", he said in a statement. They have given no indication when they might meet again.

There was no immediate reaction from the Chinese government. They criticize Trump's tactics but share USA complaints about Beijing's industrial policies. -Chinese trade war spreads.

Japan's benchmark Nikkei 225 fell 1.2% and the South Korean Kospi lost 0.6% while Hong Kong's Hang Seng shed 1.3%.

AP Economics Writer Paul Wiseman contributed from Washington.

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