South Korea airs worries over fallout from US-China trade war

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Trump has recently introduced tariffs on $34 billion worth of Chinese products and, while hundreds of products have been affected, certain goods were conveniently spared from this enactment - including the products made for Ivanka's internationally manufactured fashion brand. "We believe the U.S. measures interfere with economic globalisation and damage the world economic order". -China trade dispute escalates, Beijing cut its forecast for soybean imports and the Chinese currency fell as worries about fallout from the simmering conflict grew.

"For over a year, the Trump administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition".

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

"China has no option but to fight fire with fire".

A survey by the American Chamber of Commerce in Shanghai found that most USA businesses operating in China oppose the use of tariffs in retaliation for the challenges they face, from an uneven playing field to poor protection of intellectual property rights.

But U.S. Trade Representative Robert Lighthizer said the 10 percent duties, which also cover many consumer products that may also contain unlisted plastics components, are needed to put more pressure on China. "There is no justification for such action".

High-level talks between the two countries starting in May had failed to deliver a breakthrough to head off a trade war.

The Trump administration raised the stakes in the growing trade dispute, threatening 10 percent tariffs on a list of $200 billion worth of Chinese imports, sending stocks lower and prompting Beijing to warn it would be forced to respond.

The National Association of Manufacturers also criticized the US decision, saying this latest round of tariffs could undermine the economic gains from the administration's tax and regulatory reform policies.

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He added doctors were stationed along the corridors of the Tham Luang cave to check constantly on the boys' condition and pulse. Thai Navy SEALs also posted photos and a video of some of their operations in the cave on their Facebook page Wednesday.

"Tonight's announcement appears reckless and is not a targeted approach", said Senate Finance Chairman Orrin Hatch in a statement. They warned tariffs on imports raise consumer prices and expose USA farmers and manufacturers to retaliation. "It will also result in retaliatory tariffs, further hurting American workers", a Chamber spokeswoman said.

"American families are the ones being punished".

"Tariffs on $US200 billion in Chinese products amounts to another multibillion-dollar tax on American businesses and families", said Scott Lincicome, a trade lawyer and senior policy analyst for the group Republicans Fighting Tariffs.

Louis Kuijs, Hong Kong-based Head of Asia Economics at Oxford Economics, said while he expects China to strongly condemn the U.S. moves, its policy response is likely to be limited for now. "In part because they have only limited ammunition and in part because it's still early in the process on the U.S. side", Kuijs said.

The International Monetary Fund has warned that a full-blown trade war could undermine the broadest global upswing in years.

The office of US Trade Representative Robert Lighthizer has released a list of Chinese products, running to nearly 200 pages, that will potentially be hit with a 10 per cent import tax as early as September.

The US complains that China uses predatory practices in a push to challenge American technological dominance.

Beijing has said it would hit back against Washington's escalating tariff measures, including through "qualitative measures", a threat that US businesses in China fear could mean anything from stepped-up inspections to delays in investment approvals and even consumer boycotts.

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