Trade Wars: Trump loads first volley against China

The European Union is possibly as bad as China just smaller' Trump said on'Sunday Morning Futures on Fox News

Beijing has made the semiconductor sector a key priority under its "Made in China 2025" strategy, which has shifted up a gear after a USA ban on sales to Chinese phone maker ZTE Corp underscored China's lack of domestic chips.

"As long as the United States issues a so-called tariff list, China will take necessary measures to firmly protect its legitimate interests", Chinese Foreign Ministry spokesman Lu Kang said at a daily news briefing.

Speaking at a weekly news conference, Commerce Ministry spokesman Gao Feng warned the proposed USA tariffs would hit global supply chains, including foreign companies in the world's second-largest economy. "To put it simply, the U.S. is opening fire on the entire world, including itself".

THE Trump administration, in its latest attempt to block Chinese entry into the USA market amid its ongoing trade dispute with China, is recommending that the application by China Mobile to provide telecom services in the United States be denied.

Wang Shouwen, vice minister of commerce, said at a news conference in Beijing last week that China has not ramped up regulations to deter US imports.

The administration is set to begin imposing tariffs on Chinese goods on Friday.

China has been the biggest target of Trump's tariffs.

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.

Here are the top 10 countries most at risk in the event of an all-out global trade war.

Chinese state media has promoted the message that the European Union is on China's side.

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"The summer holiday is the peak season for Chinese citizens to travel to and come from the United States".

China's central bank moved to calm jittery markets on Tuesday after the yuan hit its lowest level in nearly a year.

China's Ministry of Commerce released a statement in June that called Trump's trade tactics "blackmail" and vowed to retaliate in both "quantitative and qualitative" ways.

On Thursday, China's state media continued to lambaste the United States.

After months of threats and skirmishes, the trade war between the United States and China is about to get serious.

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Analysts say China is unlikely to budge on those plans, which it sees as crucial for developing its huge economy.

"By threatening unilateral action without having any allies and not reducing domestic discord on trade, the Trump administration has invited China to stand tough", said Scott Kennedy, director of the Project on Chinese Business and Political Economy at the Center for Strategic and International Studies.

Both Chinese and US business sources in China said there appeared to be little hope that the tariffs could be averted.

In China, the yuan had been falling for several weeks as fears mounted that Beijing might resort to currency devaluation to give its exports an edge.

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