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US targets $ 300B of Chinese goods for new tariff hikes



U.S. officials are targeting $ 300 billion of Chinese imports including laptop computers for tariff hikes, […]

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The release followed by Beijing's announcement Monday 25% on $ 60 billion of American imports in their spiraling dispute over Chinese technology ambitions and other irritants.

Donald Trump's May 5 threat to extend punitive 25% duties to all Chinese imports, the US Trade Representative announced.

The list "covers essentially all products" is not affected by punitive tariffs, the USTR said.

It includes laptop computers, saw blades, turbine parts, tuna and garlic.

Asian stock markets fell Tuesday for a second day amid investor anxiety about the impact of trade tensions on global economic growth.

China's main market index slipped 0.7% and Tokyo's benchmark fell 0.6%. Hong Kong, Australia and Taiwan also fell.

On Monday, the Dow Jones Industrial Average fell 2.4% and the tech-heavy Nasdaq lost 3.4% in its biggest drop of the year.

That came after Beijing retaliated for U.S. tariff increases Friday on $ 200 billion of U.S. goods. China's finance ministry has announced that it has 5,200 American products, including batteries, spinach and coffee.

Trump warned Xi on Twitter that China "wants to hurt very badly" if it does not do not agree to a trade deal. Trump wrote that Beijing "had a great deal, almost completed, & you backed out!"

Both were indicated. Trump said Monday he would meet at the Group of 20 meeting of major economies on June 28 and 29 in Osaka, Japan.

The six weeks before that meeting will be "highly volatile" for financial markets, Macquarie Bank analysts said a report.

"Both sides have the incentive to act half-crazy and unpredictable before that in order to cut a better deal," they said.


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