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04 July 2018, 07:14 | Erica Roy
The European Union Mexico and Canada have all the hit U.S. with billions in retaliatory tariffs
Beijing has prepared reciprocal tariffs against the United States, which will be introduced on the same day Washington implements tariffs on $34 billion of Chinese imports, according to Reuters.
Beijing time is 12 hours ahead of Washington. "Traders are also aware that new tariffs imposed by the Trump administration on some Chinese goods are due to kick in on Friday".
"U.S. citizens visiting or residing in China have been arbitrarily interrogated or detained for reasons related to 'state security, ' " the State Department advisory said.
CHINA-U.S. TRADE: On Friday the U.S.is set to impose a 25 percent tariff on $34 billion worth of Chinese imports.
China's Foreign Ministry, when asked on Tuesday if the timing of the alert was politically motivated, said the summer was the high season for Chinese going to the United States and that Chinese embassies had an obligation to warn citizens about potential risks overseas.
Washington and Beijing are making global headlines with threats over the prospect of a trade war, but they're also hurling indirect criticisms at each other on a more subtle front: Official travel warnings cautioning their respective citizens about the dangers associated with traveling from China to the USA - or vice-versa.
The Commerce Department launched its investigation, on grounds of national security, on May 23 under orders from Trump, who has frequently complained about the EU's 10 percent vehicle tariff being four times that of the United States, apart from the 25 percent USA levy on pickup trucks.
In the currency market, the yuan bounced back from an 11-month low following moves by China's central bank on Tuesday to calm jittery financial markets.
The official China Daily said the United States was intentionally trying to prevent China from developing to keep it from challenging the former's role in the global economic order.
It has frequently waged wars against other sovereign countries and made use of the dominant influence of the United States dollar in the worldwide markets to fleece other countries.
Relations have soured between US President Donald Trump's administration and that of Chinese President Xi Jinping since they met in Beijing past year, sparking fears of an all-out trade war.
"There is a lot of concern I think about the effect a long term trade war might have but actually if you look at the data we're seeing, the economic data is not that bad", said Michael Hewson, chief markets analyst at CMC Markets in London.
Trump also said United States officials would meet soon with European counterparts to discuss a spate over trade tariffs, saying the European Union wanted to "work something out".
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