• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Current price of oil as of June 11, 2026

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Current price of oil as of June 11, 2026
Politics

Next Move Is Trump’s After China Hits Back in Trade-War Opener

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
June 16, 2018, 9:32 AM ET

China’s in-kind response to U.S. President Donald Trump’s announcement of tariffs on $50 billion of imports from the nation left the global economy on the verge of a trade war.

Two detailed lists of products on which tariffs will be collected starting July 6 now form the core of the conflict between the world’s two largest economies: One released Friday aimed at curbing China’s industrial advancement and the other aimed at hurting the commodity producers of the American heartland.

China’s response, released in detail early Saturday, now raises the prospect the U.S. will impose more duties following a pledge from Trump on Friday. For now, weeks of shuttle diplomacy between Washington and Beijing, in an effort to reduce China’s massive goods trade surplus with the U.S., have produced nothing — and the very products that China had pledged to buy more of will now be slapped with higher import duties instead.

“There is very little chance that this three-week delay to July 6 will allow for a last-ditch effort to avert tariffs,” said economists including Michael Hirson, Asia director at Eurasia Group in New York. “A first round of tariffs on $50 billion in goods is locked in and the risk of escalation to a second round is considerable.”

The U.S. Trade Representative’s final list includes 1,102 product lines, down from about 1,300 initially, mainly focused on China’s Made In 2025 plan to become dominant in high-technology industries such as robotics, aerospace, industrial machinery and automobiles. Consumer goods including mobile phones and televisions aren’t being subjected to the tariffs.

For More on the Trade Dispute:

Why the ‘Made in China 2025’ plan has become a targetSee how American businesses are girding for new tariffsThe IMF says the global outlook is worse as tensions riseHere’s what a full-blown global trade war might look likeMoody’s doesn’t expect tariffs to blow up inflationHours after the U.S. announcement — China’s Finance Ministry issued a list of 545 product categories, also covering about $34 billion in exports from the U.S., to be subject to an additional 25 percent tariff starting July 6. They included a variety of agricultural products, including soybeans, corn and wheat along with beef, pork and poultry, plus automobiles. A second set of tariffs to begin at a later date covered other goods including coal, crude oil, gasoline and medical equipment.

The U.S. imported $506 billion of goods from China last year and exported about $130 billion, leaving a 2017 deficit of $376 billion, according to government figures.

Experts panned Trump’s strategy of using tariffs to attempt to curb China’s manufacturing rise. While the USTR list does target exports of Chinese goods that are the building blocks to becoming an advanced industrial power, there’s little evidence that the tariffs will have enough effect to prevent the nation moving into more advanced fields.

“The mentality of the Trump team is a little strange,” said Andrew Polk, co-founder of research firm Trivium China in Beijing. “They’re saying, ‘We’re going to tax exports from China where they want to be a global superpower,’ he said.

“A much more powerful way to stop China from moving up the value chain is to stop selling them semiconductors,” Polk added.

China has leverage over key exports from U.S. states that voted for Trump in 2016. In April, the Asian nation started levying additional taxes on American fruit, nuts, pork and wine in response to Trump tariffs on steel and aluminum. Products affected include soy, corn, wheat, rice, sorghum, beef, pork, poultry, fish, dairy products, nuts and vegetables.

The Chinese list released Saturday covers almost all farm products imported from the U.S., said Li Qiang, chief analyst with Shanghai JC Intelligence Co. Ltd. “Given China’s big trade surplus with the U.S., it will be more difficult and complicated for China” in the future to retaliate if the Trump administration expands the tariffs to more products, said Li. The new list includes more agricultural produce, including dairy, alfalfa and seafood, than a initial group published in April.

Escalation looms. In April, Trump asked officials to consider an additional $100 billion in levies. Meanwhile, U.S. Trade Representative Robert Lighthizer said an announcement on U.S. investment restrictions on China will follow in the next two weeks.

Trump’s tariffs may also influence his efforts to bring peace to the Korean peninsula following his summit with leader Kim Jong Un this week in Singapore. Beijing is an important player in talks with North Korea on abandoning its nuclear-weapons program.

“While the end game is a compromise trade deal that meets U.S. demands for stronger Chinese protection of intellectual property rights, the road to a trade deal has become very ugly,” said Rajiv Biswas, APAC chief economist at IHS Markit in Singapore. “Both U.S. and Chinese exporters will suffer considerable economic losses while these punitive tariffs are in place, and many Asian countries that are part of the Chinese manufacturing supply chain will also suffer collateral damage in this escalating trade war.”

About the Author
By Bloomberg
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

An Osasuna player passes the ball while under pressure from Getafe rival.
CryptoSpain
Controversy swirls over Spanish soccer club accused of using novel $600,000 Kalshi wager to bet on its relegation
By Camila Grigera NaonJune 12, 2026
55 minutes ago
A person holds an iPhone as someone next to them points at the screen.
EconomyApple iPhone
You can blame America’s plummeting fertility rate on the iPhone, study finds: ‘People are all depressed and alone and doomscrolling’
By Sasha RogelbergJune 12, 2026
2 hours ago
SpaceX’s IPO could be largest in history. Here’s how it compares to previous record-holders
Startups & VentureSpaceX
SpaceX’s IPO could be largest in history. Here’s how it compares to previous record-holders
By Mia OsmonbekovJune 12, 2026
2 hours ago
Mortgage rates today, June 12, 2026
Personal Financemortgages
Mortgage rates today, June 12, 2026
By Glen Luke FlanaganJune 12, 2026
2 hours ago
Current refi mortgage rates report for June 12, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for June 12, 2026
By Glen Luke FlanaganJune 12, 2026
2 hours ago
Current ARM mortgage rates report for June 12, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for June 12, 2026
By Glen Luke FlanaganJune 12, 2026
2 hours ago

Most Popular

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
2 days ago
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
3 days ago
Current price of oil as of June 11, 2026
Personal Finance
Current price of oil as of June 11, 2026
By Joseph HostetlerJune 11, 2026
20 hours ago
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
Innovation
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
By Amanda GerutJune 9, 2026
2 days ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
4 days ago
SpaceX's record IPO has Wall Street torn between a Musk 'holy grail' and a $135-per-share leap of faith
Startups & Venture
SpaceX's record IPO has Wall Street torn between a Musk 'holy grail' and a $135-per-share leap of faith
By Marco Quiroz-GutierrezJune 11, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.