As the U.S. -China trade spat turns into a full-blown war with tariffs and retaliatory tariffs and threats of further tariffs, U.S. energy exports to China may suffer if Beijing follows through with its threat to slap tariffs on U.S. oil and oil product imports. Beijing has not yet responded because it doesn't import enough from the United States to match the $US200b figure.
Members of Congress are increasingly questioning Trump's aggressive trade policies, warning that tariffs on imports raise prices for consumers and expose United States farmers and manufacturers to retaliation overseas. Also on the list were farm products, seafood, building supplies and certain types of electronics. Hong Kong's main index shed 1.3 percent. Japan's benchmark Nikkei 225 index shed 1.7%.
A Commerce Ministry statementsaid, "It is totally unacceptable for American side to publish a tariff list in a way that is accelerating and escalating".
The move is a major escalation in a brewing trade war between the world's two largest economies. Orrin Hatch, R-Utah, chair of the Senate Finance committee.
Faced with USTR's latest announcement, China was "shocked".
The country's Commerce Ministry earlier threatened "comprehensive measures", which were feared to include harassing American companies in China.
The US felt it had no choice, but to move forward on the new tariffs after China failed to respond to the administration's concerns over unfair trade practices and Beijing's abuse of American intellectual property, according to two senior officials who spoke to reporters. "There is no justification for such action", he said in a statement.
On Wall Street, the Dow Jones Industrial Average fell more than 200 points to end at 24,700.45 after the administration announced plans to impose 10 per cent tariffs on thousands moreChinese products, drastically escalating the trade war that has been simmering for months. A final decision will come sometime after that. However, because China exports more to the United States than it imports there are limits on the amount of tariffs Beijing can impose on American goods.
China's imports of US goods are so small that Beijing "cannot match fresh USA tariffs", said Vishnu Varathan of Mizuho Bank in a report.
While summer is usually the peak season to export U.S. lobsters to China, the "crazy" 25% tariffs could drive customers to Canadian suppliers, according to Justin Oakes, a business development manager for North America at Gfresh, an online Chinese seafood marketplace.
Meanwhile, farmers hurt by Chinese tariffs on US agricultural exports pose a political risk for Mr. Trump and for Republicans, especially as the November midterm elections loom. Shares of Advance Auto Parts Inc were down 1.6%, Autozone Inc fell 1.8% and O'Reilly Automotive nearly 2%.
The dollar broke through the psychologically significant barrier of 112 yen JPY= for the first time since January 10, rising as much as 1.3 percent to 112.17 yen. China received more US crude oil in 2017 than the third- and fourth-largest importers combined, the United Kingdom and the Netherlands.
China 'cannot match fresh USA tariffs, ' Vishnu Varathan of Mizuho Bank said.
The biggest losers were the offshore Chinese yuan CNH=, which skidded toward an 11-month low, and the Australian dollar AUD=, which fell as much as 1.3 percent.
Copper lost 3.12% to $US6135.00 a ton.
Brent crude futures tumbled, settling at $US73.40 per barrel, down $US5.46 or 6.92%. Brent crude fell $2.51 to $76.30 a barrel by 11.30 pm, IST, while U.S. crude was down $1.74 at $72.37 a barrel.
Emmett's mother, Mamie Till-Mobley, was horrified to see the state of her son's body when it was returned to her. During the trial of Roy Bryant and Milam, Carolyn Bryant was brought as a potential witness for the defense.
I have worked on every major tournament as a BBC pundit since the 2006 World Cup and this one has been my favourite by a long way. It was the plucky South Americans' second World Cup title, with the first coming on home soil in the inaugural edition in 1930.
The order provided the administration with 15 days to reunite children under the age of 5 and 30 days to reunite all others. The judge issued his order in connection with a lawsuit by the American Civil Liberties Union challenging the separations.
In 2018, the team won the three-match One Day International (ODI) series and five-match T20I series in South Africa . With an overall camp scheduled to be held on July 25, Arothe's departure now casts a shadow over its eventuality.
The royal couple happily greeted and bestowed the highest honor a dog can get in the way of scratching and patting the happy dogs. Harry and Meghan visit Croke Park, home of Ireland's largest sporting organization, the Gaelic Athletic Association.
Greenyard is mainly active in the distribution of fresh products, such as vegetables, fruit, flowers and plants. Wooworths, Aldi and IGA recalled multiple packets of frozen vegetables after a possible listeria outbreak.
Bush's administration. " American Idiot " wasn't a chart hit when it was released in the U.S. , stalling at No. 61 on the Hot 100. Released in 2004, " American Idiot " is a punk rock song protesting USA involvement in the Iraq war.
The Blues talisman Eden Hazard could leave the club this summer because of the chaos at the club regarding a managerial change. The 22-year-old was in the Spain side for the World Cup but was knocked out by Russian Federation in the last 16.
Freeman was the leading vote-getter among National League players with more than 4 million votes in fan balloting. MLB DC-based official scorer Dennis Hetrick will have scoring duties for the SiriusXM All-Star Futures Game .
The Croats will play France for the title on Sunday in its biggest sporting moment since becoming an independent nation in 1991. Mario Mandzukic wheels away after scoring the winning goal in Wednesday's semifinal between Croatia and England.
Supreme Court nominee Kavanaugh is a BIG baseball fan
However, Brewer said she does not think McCain will make it back to the Senate in order to vote on the Kavanaugh confirmation. He said that Kavanaugh has assets of almost $1 million between the equity in his home and his retirement account.
Charles Oakley accused of committing fraudulent act in Vegas
Criminal charges were dismissed in February of this year, but Dolan has banned Oakley from Madison Square Garden for life . Oakley was arrested on three counts of assault for his fight with the security guards and another for criminal trespassing.
Samsung Note 9 Release Date leaked
Now it seems that the "gold" Samsung Galaxy Note 9 is not gold or yellow at all - just the all-new S Pen that goes with it. Also, the fact that Ice Universe , a well-known Samsung leaker, posted it on Twitter is one more reason to trust it.
Parents wait to hug sons as details of risky Thai rescue emerge
At the final press conference for the rescue mission Wednesday, mission commander Narongsak Osotthanakorn paid tribute to Harris. The rescue mission began after the youth soccer team became trapped when heavy rainfall flooded the cave system on June 23.
Vettel wins 2018 British Grand Prix; Hamilton second
Hamilton has won his home race for the past four years, and five times in total, and starts on pole position. Hamilton lost his championship lead to Ferrari rival Sebastian Vettel due to not finishing in Austria.
More than 100 dead as monsoon downpours devastate Japan
They tried to flee by auto , but were trapped when a second wave swept down just in front of them, swallowing three cars. Hillsides gave way under the weight of water, with deadly landslides crushing wooden houses and erasing roads.
'Game of Thrones' leads Emmys field with 22 nominations
If he wins this year, he'll tie Breaking Bad's Aaron Paul for the most wins in the Supporting Actor in a Drama Series category. Leading the nominations in totals by platform were Netflix (112), leapfrogging last year's leader HBO, which scored 108.
Sacha Baron Cohen Continues to Troll Sarah Palin
Cohen, disguised as the disabled veteran character Ruddick, interviewed Palin as part of his Showtime series. On July 10, Sarah took to Facebook to publicly shame Sacha for pranking her. "Ya' got me, Sacha.