Asia

“Our great American companies are hereby ordered to immediately start looking for an alternative to China.”

The Chinese government has announced plans to impose tariffs on $75 billion worth of U.S. goods, including retaliatory tariffs on cars, according to Chinese state-run media.

South Korean Vice Foreign Minister Lee Tae-ho was set to meet with Assistant Secretary of State for East Asian and Pacific Affairs David Stilwell and Under Secretary of State for Economic Growth Keith Krach.

President Trump on Tuesday said he was not concerned with the short-term effects of tariffs the U.S. and China have imposed on each other while also suggesting that he may help the U.S. tech giant Apple, whose products will be hit by the next wave of tariffs.

The trucking industry said the proposed duties would have cost it nearly $750 million over the next decade.

The Commerce Department will allow U.S. companies to sell to Chinese telecom giant Huawei for another 90 days even though the company remains on the Bureau of Industry and Security’s Entity List, pushing back a deadline that was seen as key to U.S.-China trade negotiations.

Trump: China “wants to make a deal. Let them work humanely with Hong Kong first!”

Asked whether the decision was related to the stock market, which took a dip on Monday, Ross said it had been “planned quite a while before.”

Agriculture organization leaders this week denounced White House trade adviser Peter Navarro’s claim that the Trump administration’s trade aid package is making farmers “whole.”