Other Opinions: Trade war will hurt our state

If US wants a trade war China is ready to fight- official

Viktor Korotayev Reuters

We're going to continue to worry about that, and hopefully come to a resolution on that.

It took strong exception to China's plans to impose retaliatory tariffs worth United States dollars 50 billion on 106 American products, including soybeans, cars and small aircraft. For example, pork and beef exports will also be hit with tariffs; meat products exported from red states to China were worth over $850 million in 2016. It's quite crucial that trade tensions have to be diffused for markets to make sustained bullish recovery. Australia's S&P/ASX 200 crept 0.1 percent higher to 5,783.40 and Hong Kong's Hang Seng jumped 1.1 percent to 29,852.93 after trading resumed following a holiday as investors caught up with the previous day's global gains.

Boeing and Caterpillar - among the firms that investors expect to be most affected by the plans for tariffs - were among the biggest losers on the Dow, starting the day more than 3 percent lower.

Risk-aversion witnessed in markets after China's move.

Geng Shuang, Chinese Foreign Ministry Spokesman, said that China was ready to put and end to the trade conflict between China and the United States through negotiation.

"This is what many of us who represent agriculture districts feared", said Graves, "was retaliation as a result of the steel and aluminum tariffs, and retaliation on ag products".

So far there has only been talk of tariffs.

Trump denied there's any war in an early morning tweet.

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"It will probably be a mixture of the three, of course, but overall I would say we will see a decline", he said.

It has proposed tariffs on a wide range of items, including Chinese-made communication satellite parts, flat screen televisions, semiconductors and industrial machinery, as well as more niche products such as bakery ovens and rocket launchers. USTR's proposed list will be open for public comment during the review process, which won't be completed until May. However, on other occasions he's said that it's easy to win a trade war.

The 15 percent tariffs on ginseng are also expected to harm Wisconsin, which produces 95 percent of the medicinal herbs sent to China.

He also said Mr. Trump isn't bluffing.

Bjorkman said Congress could stop Trump's trade war. China is the top overseas market for USA soybeans. The government later estimated that such theft by China made the USA lose between $225 billion and $600 billion each year. "That might chill commerce and set back a global economic recovery".

"Why should I invest when there's no certainty?" Numerous companies based here are anxious their exports to the USA will be affected by these tariffs.

Not to be outdone, China announced yesterday that it is "targeting high-value American exports, from airplanes to soybeans", according to a Wall Street Journal report.

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