Trump tariffs: Higher prices possible for these products

China accuses US of

US Using False Accusations On Trade To "Intimidate" Countries: China

China published a white paper on Monday that attacked the "protectionist practices" and "trade bullyism practices of the USA administration", according to state-run Chinese news service Xinhua.

President Trump, who has accused Beijing of exploiting the USA on trade, wants to reduce China's $375.6 billion goods trade surplus with America. By essentially limiting USA access to one of the most important gas markets, the tariff could have a chilling effect on the next wave of US gas export projects under planning.

On Monday, US imposed a 10 percent tax on 6,000 Chinese goods, ranging from rice and textiles to clothes and manufacturing goods.

The United States still has the advantage of cheap gas to lure developers, but projects with unfettered access to a massive market such as China will likely gain an edge in attracting investment dollars, Bordoff said.

WASHINGTON READYING MORE MEASURES Trump on Saturday reiterated a threat to impose further tariffs on Chinese goods should Beijing retaliate, suggesting that Washington may slap tariffs on virtually all imported Chinese goods if the administration does not get its way.

"Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook", the agency said in a report Friday. Beijing's vice premier Liu He was proposed to meet with the Trump administration in Washington to have mid-level trade talks.

The latest round of escalating tariffs on Chinese imports took effect today, meaning thousands of products may cost more.

Efforts at diplomacy have failed, with no breakthroughs since high-level talks began in May. Mr Trump has warned that the 10 per cent tariffs on US$200 billion in Chinese goods will rise to 25 per cent in January if Beijing refuses to offer concessions.

Still, the United States remains open to talks, Lindsay Walters, deputy White House press secretary, said.

The white paper came as a fresh round of tariffs came into force against Chinese goods coming into the US.

Still, China has other methods of retaliation open to it. Another US$16 billion of goods were included in August and China retaliated in kind to both moves.

This may be especially true with China, long a bête noire among populists in regard to trade. "This latest tranche is a tsunami", said Hun Quach, vice-president of worldwide trade for the Retail Industry Leaders Association. Business groups say American companies also report Chinese regulators are starting to disrupt their operations through slower customs clearance and more environmental and other inspections. The Chinese tariff, though smaller than the duty Beijing threatened to levy earlier this year, makes US gas a bit more expensive and less competitive in the world's second-largest LNG market.

The Chinese government has accused US President Donald Trump of bullying trade tactics and economic intimidation, while also calling for the world's two biggest economies to cooperate. "Unless that happens, serious negotiations will be impossible and the likelihood of continued escalation increases", Mr Alden said.

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