Trump's latest trade tiff with China has Texans again bracing for pain

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The US will begin imposing 25% duties on an additional $16 billion in Chinese imports in two weeks, escalating a trade war between the world's two biggest economies. The tariffs go into effect on August 23.

China said it is targeting 333 products, including crude oil, coal, diesel, cars, bicycles, medical equipment, steel products, scrap metals and waste paper, as well as fish meal.

China, however, would run out of USA imports to levy, as it bought only $130 billion worth of American goods previous year.

The office of US Trade Representative Robert Lighthizer said its "exhaustive" investigation showed "China's acts, policies and practices related to technology transfer, intellectual property and innovation are unreasonable and discriminatory and burden US commerce". Chinese imports of goods and services into the United States past year amounted to almost $524 billion.

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His wife, Ensaf Haidar, lives in Canada and recently became a Canadian citizen. The arrests last week brought criticism from the Canadian government.

President Trump had repeatedly expressed discontent over the USA trade deficit with China, accusing the country of unfair trade practices, intellectual property theft, currency manipulation, and of providing state aid to Chinese firms.

Americans import far more from China than the other way around, however, meaning Beijing may at some point need to look for other means of retaliation.

After a strong start to the year, growth in the world's second-largest economy cooled slightly in the second quarter, partly hit by the government's years-long efforts to tackle debt risks.

The markets will turn weaker if the tariff damage starts to show up in USA inventories numbers, but since Chinese refiners had been limited buyers since early July, it may not show up in the numbers for weeks.

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The tweet was later shared on the Canadian Embassy in Saudi Arabia's twitter page, which appears to have further stoked tensions. Raif Badawi's wife Ensaf Haidar lives in Canada and recently became a Canadian citizen.

The Chinese counter-move will take effect immediately after the U.S. imposes tariffs on the same amount of Chinese goods.

Among the products removed from the earlier list on $16 billion of imports were shipping containers, including those used by freight companies.

"There is no off-ramp, and Trump has given China little wiggle room to save face and come to the bargaining table", he said.

Year-on-year, the growth of China's exports to the United States slowed to 11 percent last month from 12.5 percent in June, while import growth accelerated to 11 percent from 9 percent.

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April 4: China rolls out a listof more than 100 United States goods worth roughly $50 billion that are subject to retaliatory tariffs.

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