U.S. officials listed $300 billion more of Chinese goods for possible tariff hikes while Beijing vowed Tuesday to 91裸聊视频渇ight to the finish91裸聊视频� in an escalating trade battle that is fueling fears about damage to global economic growth.
The U.S. Trade Representative91裸聊视频檚 Office issued its target list after Beijing announced tariff hikes Monday on $60 billion of American goods in their spiraling dispute over Chinese technology ambitions and other irritants. Chinese authorities were reacting to President Donald Trump91裸聊视频檚 surprise decision last week to impose punitive duties on $200 billion of imports from China.
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91裸聊视频淐hina will fight to the finish,91裸聊视频� said a foreign ministry spokesman, Geng Shuang.
91裸聊视频淲e have the determination and capacity to safeguard our interests,91裸聊视频� Geng said. 91裸聊视频淐hina91裸聊视频檚 countermeasures have shown our determination to safeguard the multilateral trade system.91裸聊视频�
Trump downplayed the standoff that sent global markets plummeting to start the week, calling it 91裸聊视频渁 little squabble91裸聊视频� between friends.
The latest U.S. list of 3,805 product categories is a step toward carrying out Trump91裸聊视频檚 May 5 threat to extend punitive 25% duties to all Chinese imports, the USTR said. It said a June 17 hearing would be held before Washington decides how to proceed.
The list 91裸聊视频渃overs essentially all products91裸聊视频� not already affected by punitive tariffs, the USTR said.
It includes laptop computers, saw blades, turbine parts, tuna and garlic. The USTR noted it excludes pharmaceuticals and rare earths minerals used in electronics and batteries.
91裸聊视频淭he risk of further escalation is far from over,91裸聊视频� said Timme Spakman of ING in a report.
Also Tuesday, China91裸聊视频檚 tightly controlled social media were filled with comments lambasting Washington following weeks of little online discussion of the dispute. That suggested official censors might have blocked earlier comments but started allowing those that favour Beijing to deflect potential criticism of President Xi Jinping91裸聊视频檚 government.
The United States is 91裸聊视频渟ucking the blood of the Chinese,91裸聊视频� said a comment left on the 91裸聊视频淪trong Country91裸聊视频� blog of the ruling Communist Party91裸聊视频檚 newspaper People91裸聊视频檚 Daily. Another comment on the site said, 91裸聊视频淲hy are Chinese people bullied? Because our hearts are too soft!91裸聊视频�
Trump started raising tariffs last July over complaints China steals or pressures foreign companies to hand over technology and unfairly subsidizes businesses Beijing is trying to build into global leaders in robotics and other fields.
A stumbling block has been U.S. insistence on an enforcement mechanism with penalties to ensure Beijing carries out its commitments.
Odds of a settlement 91裸聊视频渞emain high,91裸聊视频� said Mark Zandi of Moody91裸聊视频檚 Analytics in a report. 91裸聊视频淏ut suddenly a number of other scenarios seem possible, even one in which the U.S., China and the global economy suffer a recession.91裸聊视频�
Asian stock markets fell Tuesday as the fight, with no negotiated settlement in sight, though markets in the U.S. and Europe recovered some, but not all of the losses Monday, when the Dow plunged more than 600 points.
That came after China91裸聊视频檚 Finance Ministry announced duties of 5% to 25% on about 5,200 American products, including batteries, spinach and coffee.
Joe McDonald, The Associated Press
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