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>> But we have one particular problem and->> China urged Donald Trump to pull back from the brink on Friday. The US president is planning on $60 billion in tariffs to punish Beijing for trade policies he calls unfair. It's all had Asian markets running scared in a set off over worries these are the opening sale votes in a trade war between the world's two biggest economies.
It would be Trump's second major trade action this week. That's after he activated taxes on imported steel and aluminium. But Beijing isn't taking this lying down, issuing a warning for Washington. Official say the country isn't aiming to be in a trade war but quotes, is not afraid of engaging in one.
And to back up the tough talk, Beijing says it will now slap tariffs on $3 billion of US imports, and there maybe more on the way. Penalties on US wine, drive fruit, and steel pipes could be next. It may seem like an arbitrary list, but those measures will likely hurt American farmers both in state with strong Trump support in the US' Heartland as well as California.