European Union warns USA of boomerang effect if Trump imposes auto levies

Asian stocks fall on weak data ahead of US-China tariffs

Trump's trade war could really slam N.J. companies and cost jobs here, top business group warns

Donald Trump's trade war and policies, in general, are now being attacked by the U.S. Chamber of Commerce.

Trump's threat was the latest salvo in an escalating trade war that saw the EU slap duties on US-made jeans and Harley Davidson motorcycles in a tit-for-tat response to U.S. tariffs on European steel and aluminium exports.

Whle tariffs could jeopardize $47 million in exports to China, the U.S. Chamber said, Pascrell said China's unfair practices have cost millions of American jobs.

An escalation in the brewing trade war among the world's biggest economies threatens to deliver a £265bn blow to the global economy next year, new forecasts show, as the backlash grows against US President Donald Trump's protectionist policies.

In recent months, Trump has sparked a global-trade conflict by placing or threatening punitive tariffs on hundreds of billions of dollars' worth of goods from China, Mexico, Canada, and the European Union.

That came on top of the tariffs on Chinese steel and aluminum that went into effect in late March - measures that prompted Beijing to slap punitive duties on 128 USA goods, including pork, wine and certain pipes.

He did, however, double down on Sunday, saying in an interview with Fox News that: "The European Union is possibly as bad as China, just smaller".

"I see us running into a full collision course in a few days", said Ashley Craig, a trade lawyer at Venable LLP.

SC is among the hardest hit states, according to the analysis, though Washington stands to lose the most, with $6.2 billion of state exports threatened; $3.7 billion of that is soybean exports to China.

Warner warned if the US were to hit Canada with auto tariffs, it would be "a real kick in the gut" to the country's economy.

Starting Friday, the USA will tax 818 Chinese products, worth $34 billion a year, from the original list. Benchmark U.S. crude fell 12 cents to $74.03 a barrel in electronic trading on the New York Mercantile Exchange. This weekend, Ottawa imposed tariffs on USA goods worth around $12.6 billion.

Officials in Brussels stressed that European car-makers account for up to 26-percent of US automotive output.

It's common knowledge these days that after Trump issued 25% tariffs on steel and 10% tariffs on aluminum, other countries promised to retaliate.

"We'll spare no effort, be it at the technical or political level, to prevent this from happening", said a spokesman for the European Commission, the EU agency that handles trade.

The U.S. diplomat at the meeting said the matter was already the subject of formal disputes at the WTO, so it should not be on the committee's agenda, the official who attended the meeting said.

"They send a Mercedes in, we can't send our cars in".

The White House has already imposed tariffs on European Union steel and aluminium and faced reprisals in the form of extra charges on a range of goods, including US-made motorcycles, jeans and even playing cards. The state has about 1.2 million jobs supported by the trades.

Against China, the world's second-largest economy, the White House in mid-June announced stiff 25 percent tariffs on Chinese imports, sparking immediate retaliation from Beijing.

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