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

Trendingnow

1

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

2

Current price of oil as of July 13, 2026

3

Current price of silver as of Monday, July 13, 2026

1

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

2

Current price of oil as of July 13, 2026

3

Current price of silver as of Monday, July 13, 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
Add Fortune on Google for similar content.

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
Add Fortune on Google for similar content.

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

U.S. launches new strikes on Iran while Tehran mocks Trump’s reversal on charging for Hormuz transits — ‘20% is of course too much. We will be fair’
PoliticsIran
U.S. launches new strikes on Iran while Tehran mocks Trump’s reversal on charging for Hormuz transits — ‘20% is of course too much. We will be fair’
By Jon Gambrell, Konstantin Toropin, Will Weissert and The Associated PressJuly 13, 2026
7 hours ago
Lindsey Graham and Mitch McConnell face each other.
North Americagovernment spending
McConnell’s absence could jeopardize Republicans’ defense spending agenda as the Iran war escalates
By Sasha RogelbergJuly 13, 2026
7 hours ago
Best Recumbent Bikes (2026): Athlete Approved
HealthDietary Supplements
Best Recumbent Bikes (2026): Athlete Approved
By Christina SnyderJuly 13, 2026
9 hours ago
SoFi® vs. College Ave student loans
Personal Financestudent loans and debt
SoFi® vs. College Ave student loans
By Joseph HostetlerJuly 13, 2026
9 hours ago
Jony Ive (left), formerly with Apple and now with OpenAI, standing next to Laurene Powell Jobs, the widow of Apple founder Steve Jobs, at an event in 2022.
AIOpenAI
Stolen laptops, data breaches, secret moles, and recruiting-as-espionage. Here are the wildest claims in Apple’s lawsuit against OpenAI
By Emily ForliniJuly 13, 2026
10 hours ago
SoFi® private student loans review 2026
Personal FinanceLoans
SoFi® private student loans review 2026
By Joseph HostetlerJuly 13, 2026
10 hours ago

Most Popular

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
Innovation
The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
By Sasha RogelbergJuly 12, 2026
2 days ago
Current price of oil as of July 13, 2026
Personal Finance
Current price of oil as of July 13, 2026
By Joseph HostetlerJuly 13, 2026
20 hours ago
Current price of silver as of Monday, July 13, 2026
Personal Finance
Current price of silver as of Monday, July 13, 2026
By Joseph HostetlerJuly 13, 2026
20 hours ago
Trump embraces Australian retirement system backed by Larry Fink
Personal Finance
Trump embraces Australian retirement system backed by Larry Fink
By Brianna Sosa and BloombergJuly 12, 2026
1 day ago
How Pete Hegseth's DEI order just put Scouting America's future at stake
North America
How Pete Hegseth's DEI order just put Scouting America's future at stake
By Seth T. Kannarr, Derek H. Alderman and The ConversationJuly 13, 2026
11 hours ago
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
Success
Ex-PepsiCo CEO Indra Nooyi worked from midnight until 5 a.m. as a receptionist to pay for her Yale degree—and she says ‘respect went up’ because of it
By Preston ForeJuly 6, 2026
8 days 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.