Trump tariffs are about to hit Apple fans where it hurts

"The Trump administration should not be mistaken that China will surrender to the U.S. demands", the newspaper said in an editorial.

Washington, Europe and other trading partners say those plans violate China's market-opening commitments.

"This survey affirms our concerns: tariffs are already negatively impacting US companies and the imposition of a proposed $200 billion tranche will bring a lot more pain", said AmCham Shanghai chairman Eric Zheng. More than half of United States firms are already feeling Beijing's wrath from non-tariff measures like heightened regulatory scrutiny, more inspections and slower customs clearance, according to the survey.

Friday's news reports that Mr Trump has ordered the U.S. to proceed with further tariffs quoted administration sources.

The Trump administration's tariffs have had a tiny impact on the economy, shaving about 0.1 percent, or $18 billion, off the United States' more than $18 trillion gross domestic product, according to an analysis by the left-leaning Economic Policy Institute. "The stakes couldn't be higher for American families, businesses, farmers and workers threatened by job losses and higher prices as a result of tit-for-tat tariffs".

The U.S. Secretary of the Treasury is attempting to get China to agree to a fresh round of trade negotiations to end the growing trade war.

William Zarit, the chairman of the American Chamber of Commerce in China, warned the Trump administration against assuming those difficulties will force Beijing to cave in to its demands. A similar amount said they were delaying investment decisions because of the trade tensions. The Shanghai stock market is down 20% since this trade war trash talk started in May but it's the uncertainty of how China might retaliate that worries stock players. That prompted worries it would use regulatory controls to disrupt US business operations in China.

It's unclear yet what specific sectors have been affected by the suspension, but it will likely include industries that Beijing has promised to open to foreign businesses, such as banking, securities, insurance and asset management, said Jacob Parker, vice-president for China operations of the USCBC.

"The Chinese side believes that the escalation of the trade conflict is not in the interest of either party", Gao Feng, a spokesman for the Ministry of Commerce, said at a regular news briefing.

"Tariffs are already negatively impacting U.S. companies and the imposition of a proposed $200 billion tranche will bring a lot more pain", Eric Zheng, chairman of the American Chamber of Commerce in Shanghai, said Thursday in a statement. Some 67.6 percent said the same of China's planned retaliatory tariffs on $60 of American goods.

China has tried without success to recruit Germany, France, South Korea and other governments as allies against Washington.

"My guess is that they won't receive an enthusiastic response from the Chinese, because the Chinese probably just don't think that the Trump administration itself necessarily wants a deal or is willing to offer anything", Mr Kennedy said during a research trip to China. Some of them have criticized Trump's tactics but many echo US complaints about Chinese market barriers and industrial strategy.

Vanessa Coleman

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