U.S. to slap tariffs on extra $200 billion of Chinese imports

European exporters shift trade to avoid higher US tariffs

The Trump administration's tariff hike on medical equipment, electronics and other goods from China apply to exports made by US or European companies as well as Chinese suppliers.

The extra taxes were announced after Beijing immediately responded with its own tariffs of $34 billion on USA products.

The administration said the new levies are a response to China's decision to retaliate against the first round of United States tariffs.

Companies are "scrambling to readjust supply chains" so USA -bound goods don't pass through China, Harborn said at a news conference.

The US said it had no choice but to move forward on the new tariffs after China failed to respond to the administration's concerns over unfair trade practices and Beijing's abuse of American intellectual property, according to two senior officials.

Tne Trump administration has announced additional China tariffs, say insiders. The President imposed steel and aluminum tariffs on these countries, and has threatened to hit them with levies on imported cars and trucks.

Instead of giving in, however, China hit back with dollar-for-dollar retaliatory tariffs on US products.

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They expect the tariffs to be implemented, which is likely to further escalate the trade war resulting in $US450 billion worth of U.S. tariffs.

"Although I have supported the administration's targeted efforts to combat China's technology transfer regime, tonight's announcement appears reckless and is not a targeted approach", Hatch said in a statement.

For now, the USTR continues to work on the process of finalizing an additional $16 billion in goods to face 25 per cent tariffs to bring the total up to $50 billion.

"It looks like the US just took the scale of the trade frictions to another level", Li said at a forum in Beijing. It's an extensive list of over 6,000 goods that include seafood, propane and toilet paper, among many other things.

The list of goods targeted by the tariffs has not been made public or approved yet, but the official cited by CNBC said that parts of it target the country's "Made in China 2025" initiative to boost key industries such as technology. They also said they remain open to working with China to try to resolve the dispute, but the response from Beijing so far has been unsatisfactory.

America's trade war with China is back on.

"Unfortunately, China has not changed its behaviour - behaviour that puts the future of the USA economy at risk. But it could mask over factors that could also weigh on equities in the longer run, such as tighter monetary policies led by the United States".

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