Trump Says The US Has 'Already Lost The Trade War'

China announces tariffs on certain US products

On Friday, the Dow Industrials, the S&P 500, and the Nasdaq all fell by more than two percent, capping off another down week.

And if a trade war between the US and China were to escalate, more jobs could be on the line, said Allen.

Responding to Mr Trump's latest comments, the Chinese commerce ministry reiterated that China was not afraid of a trade war even though it did not seek one, and accused the United States of provoking the conflict.

They all said, 100 percent of them, a trade war does not benefit the U.S. When will the supporters of Donald Trump realize he doesn't know what he's doing on the world stage? They therefore get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair. Gao said comments from USA officials about ongoing talks about trade issues were incorrect. We were badly represented. On Thursday, Trump announced he had instructed the USA trade representative to consider whether tariffs on another $100 billion worth of Chinese goods would be appropriate.

China's commerce ministry said in a statement Friday that if Washington persisted in what Beijing described as protectionism, China would "dedicate itself to the end and at any cost and will definitely fight back firmly". "We can not let this continue!" he said. "President Trump's trade war means all three products will now be subject to a 15 per cent tariff by China". And China's leader, Xi Jinping, has used the standoff to reinforce the Communist Party's message that the United States is determined to stop China's rise - but that it no longer can.




China said it was not afraid of a trade war, even though it did not seek one, and accused the United States of provoking the conflict.

Despite Trump's threats for more sanctions, he has insisted the U.S.is not engaged in a trade dispute with the Asian nation.

Washington has called for the $50 billion in extra duties after it said a probe determined Chinese government policies are created to transfer USA intellectual property to Chinese companies and allow them to seize leadership in key high-technology industries of the future.

USA stocks also were affected this past Monday by Trump's new verbal attack on giant online retailer Amazon.

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