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"China has made clear its position several times that it stands firmly against such unilateral and trade protectionist practices from the USA side", an official with the China's Ministry of Commerce said on Thursday.

The measures suspending tariff concessions will target 128 United States products including pork, wines and seamless steel tubes, the Ministry of Commerce said in a statement. It also includes a willingness to rely on the World Trade Organization to help mediate parts of the disputes, surprising some experts who thought Mr. Trump might go it alone.

Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., March 22, 2018.

In the first stage, the 15-per cent tariff will be imposed if the two countries could not reach an agreement on trade issues within scheduled time.

Some observers see the proposals as a way to force China to the table faster. Ron Wyden, D-Ore., who said lawmakers wanted more consultation from the administration on trade.

If a trade war does erupt, both sides are likely to share the blame. Additionally, the crackdown will limit certain types of Chinese investment into the US.

China denies it trades unfairly.

Secondly, American companies that export to China will be exposed to retaliation in the form of tariffs on US -made goods.

Sputnik spoke with Pauline Loong; the managing director of the Hong Kong-based economic research consultancy Asia-analytica to find out more about Trump's tariffs policy towards China. It was meant for a world in which large swaths of global commerce were not covered by trade agreements.

It is also unclear what exactly the Chinese government could do to mollify the Trump administration. China was admitted to the WTO in 2001.

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France, Germany, Ireland, Latvia, Lithuania, Denmark and the Czech Republic have all warned of further action. Lithuanian President Dalia Grybauskaite said: "All of us, we are considering such measures".

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The administration formally justified its tariffs by invoking Section 301 of the Trade Act of 1974, which allows the president to impose tariffs on countries in violation of worldwide trade deals.

Trump argues that previous USA presidents were way too soft on China.

The move follows Trump's recent tariff plan on steel and aluminum imports and January's tariffs levied on imported solar panels and washing machines, which have been chided by business groups as an act of protectionism. The metal tariffs have since been softened by the USA with multiple exemptions for Canada, Mexico, South Korea, Brazil, South Korea and Germany, which account for more than half of all imports.

However, even as Trump was talking tough at the White House, his administration moved to soften the sting of the metal tariffs, telling Congress on Thursday that the European Union, Australia, South Korea and other nations would join Canada and Mexico in gaining an initial exemption.

Economists said the impact of the tariffs announced until now may be limited.

China showed readiness to retaliate by declaring plans to levy additional duties on up to $3 billion United States of American imports including fruit and wine in response to USA import tariffs on steel and aluminum, which were due to go into effect on Friday.

In a news conference this week, Premier Li Keqiang struck a familiar, conciliatory tone, defending the global trading system and promising to take additional steps to open China's economy to American services and products.

Trump tried to make it clear he wasn't trying to provoke China or its leader, President Xi Jinping. Ever since his presidential campaign he has threatened to pull the US out of the body. China also was the third-largest market for U.S. pork and fourth-largest market for United States beef by value in 2017. He has publicly called on China to shave $100 billion off that figure. "It has been very expensive for America", said Navarro.

The US stocks pared earlier gains to trade lower on Friday as Wall Street continued to assess President Donald Trump's announcement to impose tariffs on imported Chinese products.

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