Endless war: China promises retaliation in the United States if new tariffs apply

In a statement, the Chinese Ministry of Commerce accused the United States of seriously violating the "consensus" that Trump and his Chinese counterpart have reached Xi Jinping in June with the aim of relaunching the negotiations.

In a series of tweets, the US president, who aspires to a second term, said Thursday that his administration would apply, from September 1, "a small supplement of 10% to 300 000 million dollars" Chinese imports except until now.

The announcement of Trump has caused a bomb effect on the market: European stock markets plunged on Friday morning and oil lost nearly 8% Thursday in New York.

The reaction of the Asian markets was identical. The Tokyo Stock Exchange reported more than 2% Friday and the Shanghai Stock Exchange 1.41%.

"That does not worry me at all" Trump told reporters Thursday about the impact on the markets. "I was waiting for it"he added.

He also felt that the Chinese president Xi Jinping He wanted an agreement but considered that "I did not go fast enough".

Trump warned that it could further increase tariff rates on Chinese products if Beijing did not accept US requirements. And he mentioned the possibility of going "beyond 25%".

Total imports by the Asian giant would therefore be overtaxed if these future rates were applied.

However, Donald Trump says the discussions will continue as planned to "early September".

But the president of the economic council, but the United States (USCBC), Craig AllenHe fears that this decision will cause the Chinese to abandon the negotiations.

The tenant of the White House justifies his decision by the fact that Beijing has not respected two very important commitments: the mbadive purchase of American agricultural products and the cessation of sales of fentanyl, a very powerful protagonist of opioids. the drug crisis in the United States and of which China is one of the main producers.

Beijing announced Thursday it has bought more US agricultural products in recent weeks. And the negotiations between the United States and China seemed to have resumed in a relatively calm climate this week in Shanghai.

On Wednesday, the two sides announced talks "productive" to try to end a trade war unleashed a little over a year ago.

Washington already imposes tariffs of 25% on more than 250 000 million dollars of Chinese goods. Beijing responded by imposing additional tariffs on some $ 110 billion worth of US products.

Until now, the US administration had canceled the current consumer goods, so that the US economy, driven by household consumption, was relatively immune to the trade war .

But the possibility that tariffs affect all products has caused great turmoil in the markets. The Best Buy Group, a chain of electronics stores, dropped 9% immediately following the announcement.

The president "plays with fire"warned Gregori Volokhine, an badyst at Meeschaert Financial Services.

Donald Trump has launched a tariff war against China to force the Chinese authorities to stop subsidies to state-owned enterprises, technology transfers imposed on foreign companies or the "theft" of American intellectual property.

And warned that there is "a good agreement" commercial or not. On Thursday, he even claimed that he could do without marketing with China.

The head of the American diplomacy, Mike Pompeo, present in Bangkok, accused Beijing for its "protectionism" and "predatory strategy".