Donald Trump pulls the trigger on tariffs on $200bn in Chinese goods

Trump has threatened to slap tariffs on nearly all goods the US buys from China

Trump has threatened to slap tariffs on nearly all goods the US buys from China

The company wanted that these could lead to consumers paying higher prices for the products.

Kyle Bruns packs a live lobster for shipment to Hong Kong at The Lobster Company in Arundel, Maine, on Tuesday.

US President Donald Trump has instructed staff to move forward with the next round of tariffs on Chinese goods, US media have reported. Exporters in the United States say their business in China has dried up since then.

"When the headlines hit, the knee-jerk reaction in the market is to either sell off or gain immediately", Quincy Krosby, chief market strategist at Prudential Financial Inc, said by phone. It led U.S. stocks to trade lower, fueled drops in the Chinese yuan in offshore trading and gains in the dollar index, and sent the S&P 500 index negative.

A US Treasury spokesman did not respond to requests for comment.

But analysts say the newest series of tariffs would be a particularly deep cut for both economies, and would likely come ahead of November midterm elections, with recent polls showing Trump and the Republican Party may be vulnerable in the House of Representatives.

Treasury secretary's attempt to restart trade talks with Beijing and China welcomed the invitation on Thursday.

Trump was asked during the meeting whether he was concerned about the impact of the new tariffs on negotiations with China.

So far, the two economic superpowers have imposed tariffs of 25% on more than $50 billion of each other's exports.

Apple iPhone XS, XS Max preorders kick off, some models sell out
It makes sense that Apple is now ditching the 6, as the firm typically limits its lineup to the three most recent generations. Prices have gone from $649 to the entry level iPhone 7 in 2016 to $1,149 for the largest-capacity, 256GB iPhone X past year .

This may be bad news for China, but despite what Chinese funded media outlets might want people to believe, it is good news for the redistribution of capital in the region, and therefore also good for global trade.

A series of companies want President Trump to know that tariffs are hurting USA industries.

President Trump on Thursday cast doubt on the possibility of a breakthrough in trade talks with China, saying he was prepared to hammer China's economy with tough new economic penalties if Beijing doesn't offer concessions. American officials also worry they might erode USA industrial leadership. Disclosure on Wednesday that the US sought to renew the talks rallied USA stocks and emerging-market assets.

He vowed last week to increase tariffs to hit an additional US$200 billion in Chinese imports "very soon" unless China agreed to steps that would reduce its massive trade surplus.

About half of American firms are making less money, and a similar amount are reporting higher production costs, according to the survey. There was no decision made during Thursday's meeting regarding when to issue the $267 billion round.

The list of affected devices includes some of Apple's most popular offerings.

Efforts to end the dispute have fizzled so far.

China and the United States are set to return to the table with the threat of new U.S. tariffs looming after Treasury Secretary Steven Mnuchin extended the invitation to counterparts in Beijing.

The American Chamber of Commerce in China polled more than 430 United States companies operating in the country, providing the first detailed look at how Donald Trump's trade fight has harmed business.

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