As the U.S. trade war with China looks set to escalate, Dr Tony Syme, expert in macroeconomics and global finance at the University of Salford Business School, comments on what the impact might be and how it could reach much further than just the two countries involved. Oxford Economics estimates that if Trump imposed the $200 billion in duties and China responded in kind, us growth could slow by 0.3 percentage point next year.
Despite the threat from Trump, China vowed to retaliate with "strong" countermeasures if the USA goes ahead with the new tariffs.
Analysts warned that the risks are growing of an increasingly damaging clash that will ripple around the globe.
"There's definitely some element of pressure here as we go through the trade war fears, as well as the rhetoric for tariffs", said Sid Mokhtari, executive director of institutional equity research at CIBC. "Attitudes seem to be hardening". How many tariffs are there now? Nothing has been announced publicly about exempting iPhones from tariffs, and China sets its own import and export rules. Another 280 or so still need to undergo a public comment period, and will take effect later.
Trump said that Canada produced energy and timber but that it was time for them to stop taking advantage of the United States on trade.
The White House has not made a public statement exempting Apple from tariffs, and China could always decide to place tariffs on materials that are used to make Apple's devices or make life hard for Apple in other ways, such as by using bureaucracy to slow down shipments.
Although this would indeed badly damage American companies, he says it would have the side benefit of flooding markets with cheaper goods - except in the United States, of course, where such goods would be hit with steep tariffs.
According to a report in Monday's New York Times, in the midst of the escalating trade war rhetoric between the USA and China, Apple CEO Tim Cook has allegedly been given a promise from the Trump administration that the Apple iPhone, assembled in China, will not be slapped with any tariffs for its trip across the us border.
President Donald Trump is once again threatening to hit China with more tariffs - but the Chinese government has a hidden trick up its sleeve that could help it beat Trump's tariffs while dealing a devastating blow to American companies.
The president asserted in a statement Monday night that China is determined "to keep the United States at a permanent and unfair disadvantage". Harborn added that the chamber did not support the use of tariffs to resolve such disputes.
USA soybean futures were among the biggest casualties after President Donald Trump threatened to impose a 10 percent tariff on another $200 billion of Chinese goods, a threat that China's commerce ministry described as "blackmailing", vowing to retaliate. "The trade relationship between the United States and China must be much more equitable".
It published a draft list of about 1,300 Chinese products slated for tariffs in April.
Time is running out for Beijing to fulfil its reform promises if it hopes to maintain stable growth, a top European business lobby said on Wednesday, contending that the roots of U.S.
For some companies, the exposure to China is far higher: USA tech giant Qualcomm generates 63 percent of its revenue in China and needs Chinese authorities to approve its takeover of semiconductor maker NXP. It showed a willingness to do that to South Korean businesses previous year during a period of tension between the two Asian countries.
"China could target USA firms through tax and regulatory policies", Citigroup said in a report. Beijing wants to "demonstrate that things will be done their way or not at all", said Christopher Balding, an economics professor at Shenzhen's HSBC Business School, who believes Chinese policymakers prefer demonstrations of "power and control" over "technical policy rightness".