Beijing announced additional tariffs on 106 US products, including soybeans and cars, worth around $50 billion. The Chinese government is sending a clear signal to Washington by including soybean - more than half US soybean exports go to China.
In the latest round of Chinese tariffs against 106 American products, the focus is on the lucrative US exports of soybeans, planes and cars. But why has China targeted these products and which US states will suffer most?
The US deficit in foreign trade widened in July by the most in three years, as exports of soybeans and civilian aircraft declined and imports hit a record high. Deficits with China and the EU were the highest-ever.
EU chief Juncker last week grandly promised US President Trump that Europe would buy more US soybeans and gas. In return the US would step back on car tariffs. But is the EU offering anything more than today's reality?
US President Donald Trump remains focused on reducing the American trade deficit, and Japan may be the next target. An American newspaper cites the president as saying he wants to make Tokyo "pay" for its surpluses.
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